NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » India-Egypt bilateral trade rises 33%

India-Egypt bilateral trade rises 33%

Last updated on: October 13, 2012 14:52 IST

India-Egypt bilateral trade rises 33%

India-Egypt trade has witnessed an healthy increase of 33% from $3.2 billion to $4.2 billion during the last fiscal, according to official trade figures.

The trade performance is particularly significant in the context of the prevailing global economic slowdown.

The data released by Egyptian Government for the financial year ending June 2012 shows Indian exports to Egypt during the last one year increased by 29.36 per cent, rising from $1.5 billion to $1.94 billion.

Major items of India's exports include frozen meat, milled rice, cotton and synthetic yarn, light oils, sesame seeds, cathodes, carbon electrodes, pneumatic rubber tires, among others.

These also included motorcycles and telephone sets, it said.

Indian imports during the same period grew by 36.41 per cent, rising from $1.7 billion to $2.3 billion.

Of these, crude oil and Liquefied natural gas (LNG) accounted for almost $1.97 billion. Other major items in Indian import basket include phosphates, cotton and ammonia.

India is now Egypt's 7th largest trading partner, the release said, adding New Delhi's steep increase in imports has made it the second largest destination for Egypt's exports after Italy. India is placed 11th in terms of Egypt's imports.

© Copyright 2018 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.