Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

CAPMAS: Egypt Trade Exchange with Arab World Hit $26 Billion


Thu 16 May 2024 | 02:37 AM
Taarek Refaat

The Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that the volume of trade exchange between Egypt and the Arab countries reached $26 billion during 2023, compared to $29.5 billion, year-on-year.

The agency stated, in a statement Wednesday, that the value of Egyptian exports to Arab countries reached $13.6 billion during 2023, compared to $12.5 billion during 2022.

It added that Saudi Arabia came at the top of the list of Arab countries with the highest imports from Egypt during the year 2023, as the value of Egypt’s exports to it amounted to $2.7 billion, followed by the UAE with $2.2 billion, then Libya with about $1.8 billion, then Sudan with about $984.4 million, then Algeria with Its value is $850.3 million.

Regarding the most important commodity groups exported to Arab countries during 2023, the agency indicated the export of vegetables and fruits worth $1.3 billion, and machinery and electrical appliances worth $1.1 billion were also exported.

The report added that Egypt's exports of pearls, precious stones and jewelry to Arab countries amounted to a value of $1 billion, while exports of fuel, mineral oils and their distillation products amounted to a value of $753 million, indicating that Egypt's exports of plastics and their manufactures amounted to a value of $712 million.

In another context, the agency indicated that the value of Egyptian imports from Arab countries amounted to $12.4 billion during 2023, compared to $17 billion during 2022.

It added that Saudi Arabia topped the list of Arab countries with the highest exports to Egypt during the year 2023, with the value of $5.2 billion, followed by Kuwait with $2.7 billion, then the UAE with $2.1 billion, then the Sultanate of Oman with about $717.4 million, then Bahrain with about $399.5 million.

Regarding the most important groups of goods imported from Arab countries during the year 2023, the report indicated that Egypt imported fuel, mineral oils, and their distillation products worth $6 billion, while imports of plastics and their products amounted to $2 billion.

The agency explained that the value of Arab countries’ investments in Egypt amounted to $7.3 billion during 2022/2023, compared to $8.2 billion during 2021/2022.

The UAE ranked first in the list of Arab countries with the highest investments in Egypt during the fiscal year 2022/2023, as the value of its investments in Egypt recorded $3 billion, followed by Saudi Arabia with $2.4 billion, then Kuwait with about $632.6 million, then Qatar with $548.2 million, then Bahrain with about $337 million.

The agency stated that the value of Egyptian investments in Arab countries was $3 billion during the fiscal year 2022/23, compared to $2.8 billion during the fiscal year 2021/22.

The United Arab Emirates came first in the list of the highest Arab countries in terms of the value of Egyptian investments there during the fiscal year 2022/23, as the value of Egypt’s investments in it amounted to $1.7 billion, followed by Saudi Arabia with $272.1 million, then Kuwait with $221.2 million, then Bahrain with about $108.5 million, then Qatar with $86.8 million.

The agency’s data revealed that the value of remittances from Egyptians working in Arab countries was recorded at $14.3 billion during the fiscal year 2022/23, compared to $21.5 billion during the year 2021/22.