The Egyptian minister of trade and industry, Tarek Kabil, said on Saturday that trade exchange between Egypt and the US has amounted to $5 billion in 2016, according to a statement.
Kabil added that Egyptian imports to the US grew 6% last year to $1.493 billion compared to $1.405 billion in 2015.
The minister also indicated that Egyptian imports from the US decreased by 26%, as Egypt ranked 49th in the list of importers from the US, with imports totalling $3.506 billion in 2016, down from $4.752 billion in the year before.
Trade deficit between the two countries declined by around 40% from $3.347 billion in 2015 to $2.12 billion in 2016.
American investors are among the top ten foreign investors in Egypt with a total value of $23.7 billion, with 1,221 companies working in different fields.
The White House officially announced on 29 March that US President Donald Trump will receive his Egyptian counterpart Abdel Fattah El-Sisi in Washington on 3 April 2017, in the first visit by an Egyptian president to the US since 2004.
