The Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that the value of Egyptian exports to Cyprus increased to $70.5 million during the first nine months of 2023, compared to $58.6 million during the same period in 2022, an increase of 20.3%.
The report stated that the value of Egyptian imports from Cyprus amounted to $8.4 million during the first nine months of 2023, compared to $6.2 million during the same period in 2022, an increase of 36%.
The statistics indicated an increase in the value of trade exchange between Egypt and Cyprus to reach $79 million during the first nine months of 2023, compared to $64.8 million during the same period in 2022, an increase of 21.8%.
The report explained that the most important commodity groups that Egypt exports to Cyprus are iron and steel worth $35.1 million, fertilizers worth $6.5 million, paper and paper pulp products worth $5.8 million, and plastics and their products worth $5.2 million, and vegetables worth $1.9 million.
The report continued that the most important groups of goods that Egypt imported from Cyprus, during the first nine months of 2023, were boilers and machinery worth $2.4 million, iron or steel products worth $1.4 million, grains and oil fruits worth $1.2 million, and plastics and their products worth $600,000 and paper worth $500,000.
The value of Cypriot investments in Egypt amounted to $35.2 million during the fiscal year 2022/23 compared to $67.5 million during the FY2021/22, a decrease of 47.9%.
The value of remittances from Egyptians working in Cyprus recorded $14 million during the FY2021/22 compared to $14.2 million during the FY2020/21, a decrease of 1.4%.
The value of remittances from Cypriots working in Egypt amounted to $1.9 million during the FY2021/22, compared to $2 million during the FY2020/21, a decrease of 3.5%.
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