India-Egypt bilateral trade rises by 33%

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

The data released by Egyptian Government for the financial year ending June 2012, said the trade performance is particularly significant in the context of prevailing global economic slowdown.

Indian exports to Egypt during the last one year increased by 29.36 per cent, rising from $ 1.5 billion to $ 1.94 billion, the data released recently said.

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.