An economic study to evaluate the rates of trade exchange between Egypt and COMESA countries in light of recent economic changes

Omran Ahmed, Mohamed; Younis Abdel Halim, Mohamed; Mohamed Al-Sagheer, Karima

doi:10.21608/ijarlg.2024.296535.1082

An economic study to evaluate the rates of trade exchange between Egypt and COMESA countries in light of recent economic changes

Document Type : Original Article

Authors

¹ Master Researcher / Institute of African Research and Studies, Aswan University

² Professor of Economics Dean of the Faculty of Commerce for Boys, Al-Azhar University

³ Lecturer of Economics at the Institute of African Research and Studies and Nile Basin Countries - Aswan University

10.21608/ijarlg.2024.296535.1082

Abstract

Abstract :
COMESA membership includes 21 countries, which are (7): Egypt, Ethiopia, Eritrea, Sudan, Congo, Uganda, Burundi, Comoros, Djibouti, Rwanda, Zambia, Zimbabwe, Swaziland, Seychelles, Kenya, Libya, Malawi, Madagascar, Mauritius, Tunisia. Many Nile Basin countries are also members of COMESA, as the Nile Basin countries include 10 countries: Egypt, Eritrea, Uganda, Ethiopia, Sudan, Congo, Burundi, Tanzania, Rwanda, and Kenya. Kenya ranks first in Egypt's exports to COMESA countries. As for imports, Libya, Zambia, and Kenya came in the first three places, respectively. The average total value of Egypt's exports to COMESA amounted to about EGP 68.7 billion, contributing about 53% of Egypt's average total exports amounting to about EGP 130 billion. Egypt's average total imports from COMESA amounted to about EGP 3.88 billion, contributing about 62.1% of Egypt's average total imports amounting to about EGP 6.247 billion. Thus, it is clear that Egypt has a deficit in the general trade balance estimated at about 6.117 billion pounds, while it has a positive trade balance with COMESA estimated at about 68.3 billion pounds for the average period mentioned. It is worth noting that Egypt's exports to COMESA are represented in: aluminum products, medicines, paper, petroleum and chemical products, carpets, ceramics, food products, furniture, fertilizers and pesticides, cement and reinforcing steel, rice, fruits, vegetables, and textiles. Egypt also imports from COMESA: tea, coffee, cocoa, legumes, tobacco, sesame, raw hides, tanning materials, plant and aromatic extracts, and live camels. Egypt's exports to COMESA are relatively diverse compared to its imports, with medicines and rice topping the list of exports, and black tea and sesame seeds on the list of imports.

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