May 22, 2023

Egypt, Arab countries trade exchange up 16.4% YoY in 2022

Arab Finance: The trade exchange between Egypt and the Arab countries rose by 16.4% year on year (YoY) in 2022 to $29 billion from $25 billion, data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) showed.

The value of Egyptian exports to the Arab countries reached $12.2 billion last year, compared to $11.1 in 2021, marking an annual increase of 10%.

Saudi Arabia topped the list of Arab importers from Egypt last year with $2.5 billion in imports, followed by the UAE with $1.9 billion and Libya with $1.2 billion.

Meanwhile, Egypt’s imports from the Arab countries amounted to $29 billion in 2022, a 22% YoY surge from $25 billion.

Saudi Arabia was the largest exporter to Egypt with $7.9 billion in exports, followed by Kuwait with $3.3 billion and the UAE with $2.9 billion.

Remittances of Egyptians living in Arab states registered $21.5 billion in fiscal year (FY) 2021/2022, down from $21.9 billion in the previous FY.


Categories : finance & economy

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