Egyptian President Sisi visited China on May 28th and will attend the opening ceremony of the 10th Ministerial Meeting of the China-Arab States Cooperation Forum.
Since his election as President of Egypt in 2014, Sisi has been re-elected twice, in June 2018 and April 2024.
During his tenure, he has visited China eight times.
According to the statistics of China Customs, from January to April 2024, the total import and export volume between China and Egypt was 38.731 billion yuan, an increase of 6.6% year-on-year.
Among them, China's exports to Egypt reached 36.997 billion yuan, an increase of 9.3% year-on-year; while imports from Egypt were 1.734 billion yuan, a decrease of 30.6% year-on-year.
In 2023, the total import and export volume between China and Egypt was 111.156 billion yuan, a decrease of 6.7% year-on-year.
Specifically:
- China's exports to Egypt were 105.006 billion yuan, a decrease of 6.6% year-on-year.
- China's imports from Egypt were 6.15 billion yuan, a decrease of 9.2% year-on-year.
- China's trade surplus reached 98.856 billion yuan.
Over the past decade, bilateral trade between China and Egypt has generally maintained growth but has slightly declined in the past three years.
From 714 billion yuan in 2014 to 1.291 trillion yuan in 2021, but it fell to 111.2 billion yuan in 2023.
The trade volume in 2023 was 1.56 times that of 2014.
Observing the data, it can be seen that trade between China and Egypt is dominated by Chinese exports to Egypt.
From 2014 to 2023, China's cumulative exports to Egypt amounted to 941.1 billion yuan, cumulative imports were 74.7 billion yuan, and the cumulative surplus was 791.6 billion yuan.
In other words, China's imports from Egypt accounted for 7.94% of the total import and export volume between China and Egypt.
So, what products does China import from Egypt and export to Egypt?
The main products China imports from Egypt mainly include mineral products (energy/stone/metal) and agricultural products (fruit/flax/bagasse/cotton), accounting for about 90% of the total imports.
Below is a list of the top 12 products China imports from Egypt:
Observing the data, it can be seen that the product China imports most from Egypt is liquefied natural gas, with imports of 282,100 tons and an import value of 1.346 billion yuan in 2023, accounting for 21.88%.
Secondly, stone, mainly phosphorite and marble, with imports of 1.68 million tons and an import value of 1.048 billion yuan, accounting for 17.04%.
Thirdly, fruits, mainly frozen strawberries and oranges, with imports of 96,400 tons and an import value of 708 million yuan, accounting for 11.52%.
Other products include flax, sugar cane residue, fuel oil, copper and aluminum metal raw materials, leather, metal ores, clothing, and chemical products.
There are many types of products exported by China to Egypt. Specifically, in 2023, China exported more than 4,600 types of goods to Egypt, while there were more than 600 subcategories of imports.
The product China exports most to Egypt is machinery/electrical/sound and electronic equipment and components, with an export value of 31.8 billion yuan, accounting for 30.26%.
Among them, audio and video equipment and components were 4.7 billion yuan, accounting for 4.48%;
Motor equipment and components were 2 billion yuan, accounting for 1.92%;
Communication equipment and components were 2 billion yuan, accounting for 1.91%;
193 million solar panels, with an export value of 1.2 billion yuan, accounting for 1.13%.
Secondly, textiles/clothing/shoes and hats, with an export value of 17 billion yuan, accounting for 16.18%.
Thirdly, metals and their products, mainly steel products, with an export value of 15.7 billion yuan, accounting for 14.96%.
Other products include chemicals and chemical products, plastics/rubber and their products, furniture/seating/lighting/toys, etc.
In January of this year, Egypt became an official member of the BRICS countries, joining Saudi Arabia, the United Arab Emirates, Iran, and Ethiopia, providing a new platform for Sino-Egyptian relations.
Egypt is located at the intersection of Asia, Europe, and Africa, making its geographical location extremely important.
In recent years, Egypt has become an important investment destination for China overseas, such as the Egypt New Capital Central Business District project, the China-Egypt TEDA Suez Economic and Trade Cooperation Zone, and the Cairo-Tenth of Ramadan City Railway Project.
When mentioning Egypt, people may first think of the pyramids.
However, Egypt has two major civilizations. In addition to the pyramid civilization, there is also the canal civilization, the most famous of which is the Suez Canal.
In August 2015, the Egyptian government launched the construction of the "Suez Canal Economic Zone," drawing on the development experience of China's economic zones, and plans to build a "Suez Canal Corridor Economic Belt" along the Suez Canal.
It is reported that after the completion of this economic belt, it will create an annual income of $100 billion for Egypt, accounting for about one-third of the country's total economy.
Although many people regard the Suez Canal as a product of modern times, in fact, it spans the entire history of ancient and modern Egypt.
The Suez Canal has witnessed not only the prosperity of ancient Silk Road trade between the East and the West but also recorded the rise and fall of empires.
At the same time, it also carries the struggle of major powers such as Britain, France, the United States, and the Soviet Union in geopolitics and spheres of influence, playing an important role in World War I, World War II, and various Middle East wars.
This canal has not only had a huge impact on Egypt's national destiny but also continues to have profound and lasting effects on Arab countries, Europe, and the world as a whole.
In Sino-Egyptian relations, trade is an important part of bilateral cooperation.
Although the total trade volume between China and Egypt has slightly declined in recent years, both sides are working to promote the growth and diversification of trade.
Through more cooperation initiatives and projects, Sino-Egyptian trade relations are expected to continue to develop steadily, bringing more opportunities and benefits for the economic development and well-being of both countries.
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