Egypt-Algeria trade exchanges up in first 5 months of 2015

Trade exchanges between Egypt and Algeria increased by 21% (US$51.4 million), from US$425.6 million during the first five months of 2014 up to US$477 million during the same period in 2015, said Egypt's Trade Minister Plenipotentiary to Algeria Mohamed Sherif Fathy.

In a statement to the Egyptian press agency (MENA), Mohamed Sherif said that Algeria's exports to Egypt grew by 22.63 % from January to May 2015, amounting to US$ 263.2 million against US$ 214.6 million during the same period a year earlier.

Algeria's sales to Egypt are expected to further increase during current year with the delivery of six cargos of Algerian liquefied natural gas (LNG), in accordance with the agreement signed between the oil companies of the two countries, he said, adding that the third cargo of Algerian was delivered in July.

Butane gas, propane gas and LNG are Egypt's main imports from Algeria.

Mohamed Sherif underlined however that Egypt's exports to Algeria showed a record level moving from US$ 211 million during the first five months of 2014 up to US$ 213.8 dollars during the same period in 2015.

Egypt's exports to Algeria consist mainly of copper cables worth US$ 36.3 million.