The value of trade between Egypt and Jordan increased by 18% during the first quarter of 2021 to record about $228.147 million, compared to $193.416 million year-on-year, accounting for 0.8% of Egypt's total trade.
The foreign trade bulletin issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) indicated that trade exchange between the two countries increased last March by 24.3% to reach $66.324 million, compared to $53.334 million year-on-year.
The value of Egypt's exports to Jordan increased by 17.7% to record $190.356 million, compared to $161.776 million, acquiring 2.1% of the total Egyptian exports to the world, as well as in March to record $56,845 million, compared to $43.776 million, a growth of 29.8%.
Egypt's imports from Jordan grew by 19.4%
The value of Egypt's imports from Jordan grew by 19.4% to reach $37.791 million, compared to $31.64 million, accounting for 0.2% of the total Egyptian imports from the world, while it declined in March to $9.479 million, compared to $9.558 million, down by 0.8%.
The trade balance between Egypt and Jordan falls in Egypt's favour, with a value of $152.565 million during the Q1 of 2021.
According to the State Information Service (SIS), economic relations between Egypt and Jordan have witnessed significant growth, as the two countries are bound by several joint bilateral and regional trade agreements, the most important of which are the Greater Arab Free Trade Area (GAFTA), and the bilateral trade exchange agreement.
Among the most important Egyptian exports to Jordan are gas, and some agricultural products and crops, including rice, potatoes, onions, guavas and mangoes. Egypt imports from Jordan include some agricultural products such as olive oil.
[caption id="attachment_249310" align="aligncenter" width="960"]
Tripartite summit between Egypt, Iraq and Jordan in Baghdad, June 27, 2021 (Presidency Spokesperson)[/caption]
The volume of Jordanian investments in Egypt is $2.2 billion
According to the data of the General Authority for Investment and Free Zones (GAFI), the volume of Jordanian investments in Egypt amounts to 2,423 companies with capitals amounting to $2.2 billion, including 713 companies in the industrial sector, 1,045 companies in the service sector, 223 companies in the construction sector, 21 companies in the finance sector, 90 companies in the tourism sector and 167 companies in the agricultural sector and 164 companies in the telecommunications.
There are many opportunities to increase joint investments in these sectors during the coming period with the support of the political leadership for this trend.
[caption id="attachment_249311" align="aligncenter" width="960"]
President Abdel Fattah El-Sisi meets King Abdullah II of Jordan on the sidelines of the tripartite summit between Egypt, Iraq and Jordan in Baghdad, June 27, 2021 (Presidency Spokesperson)[/caption]
On Sunday, in the Iraqi capital, Baghdad, a tripartite summit between Egypt, Iraq and Jordan, which included President Abdel Fattah Al-Sisi, King Abdullah II of Jordan, and Iraqi Prime Minister Mustafa al-Kadhimi took place.
The summit comes to activate all the agreements of the three countries that were signed during the last period in Egypt and Jordan in the economic, investment, energy, oil and electricity fields.
Follow the latest news on Google News
