The value of trade between the UAE and Egypt jumped 21 percent in January and February 2022, to record $803.8 million, compared to $663.5 million for the same period in 2021.
Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed today, Saturday, that the value of Egyptian exports to the UAE increased, recording $373.8 million during the first two months of 2022, compared to $257 million during the same period in 2021, an increase of 45.4 percent.
The value of Egyptian imports from the UAE also increased to $430 million during the first two months of 2022, compared to $406.5 during the same period in 2021, an increase of 5.8 percent.
The value of Emirati investments in Egypt amounted to $448.6 million during the first quarter of the 2021/22 fiscal year, compared to $353.6 million during the same period in 2020/2021, an increase of 26.9 percent.
The value of remittances from Egyptians working in the UAE amounted to $3.4 billion during the fiscal year 2019/2020, compared to $3.1 billion during the fiscal year 2018/19, an increase of 9.5 percent, while the value of remittances from Emiratis working in Egypt amounted to $41 million during the fiscal year 2019/2020 compared to $45.5 million during the fiscal year 2018/2019, a decrease of 9.9 percent.
The UAE is the second Arab trading partner and the ninth globally for Egypt, after the non-oil trade exchange between the two countries quadrupled during the years 2010-2019.
Between the UAE and Egypt, there is an economic and investment partnership that reflects the strength of relations.
It's noteworthy that Jordan, the UAE and Egypt are scheduled to sign a tripartite agreement to establish a strategic partnership that promotes industrial integration in the three countries, during meetings hosted by the UAE capital Abu Dhabi, starting from today, May 28, 2022.
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