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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

G7 investments in Egypt Rise 15.7%


Fri 21 Jun 2024 | 07:37 AM
Taarek Refaat

The Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that the value of the investments of the G7 countries in Egypt increased during the fiscal year 2022/23 to reach $8.1 billion, compared to $7 billion during the fiscal year 2021/22.

CAPMAS revealed that the value of the investments of the G7 countries in Egypt increased during the fiscal year 2022/23 to reach $8.1 billion, compared to $7 billion during the fiscal year 2021/22.

Italy ranked first in the list of the G7 countries that invested highest in Egypt during the fiscal year 2022/23, as the value of its investments in Egypt recorded $2.6 billion, followed by the United States with $2.3 billion, then the United Kingdom with $2 billion, then France with $591.3 million, then Germany with $355.7 million, then Canada, $113.5 million, and finally Japan, $68.4 million.

The value of Egyptian investments in the G7 countries recorded $7.32 billion during the fiscal year 2022/23, compared to $7.34 billion during the fiscal year 2021/22.

However, the value of Egyptian exports to the G7 decreased significantly during 2023, recording $8.6 billion compared to $11.4 billion during 2022, reflecting a 25% decline.

The year 2023 witnessed a noticeable strengthening of economic relations between Egypt and the G7 countries, as the volume of trade exchange between the two sides reached $26 billion, setting a new record.