Volume of trade exchange between Egypt, Saudi Arabia reached $9.1bn in 2021: CAPMAS

Newspaper Title: https://dailynewsegypt.com/

Newspaper Number:

Tuesday - 21 June 2022

he Central Agency for Public Mobilisation and Statistics (CAPMAS) revealed that the value of trade exchange between Egypt and Saudi Arabia increased to $9.1bn during 2021, compared to $5.6bn in 2020 — an increase of 62.1%.

According to a recent report by the agency, the value of Egyptian exports to Saudi Arabia amounted to $2.2bn, compared to $1.9bn — an increase of 17.3% — while the value of Egyptian imports from Saudi Arabia amounted to $6.9bn, compared to $3.7bn — an increase of 84.5%.

CAPMAS also indicated that the most important commodity groups exported by Egypt to Saudi Arabia in 2021 included mineral fuels, mineral oils, and their distillation products at a value of $449m; fruits at $184.2m; iron and steel at $151.4m; copper and its products at $135.2m; machinery, equipment, and electrical equipment at $124.2m.

On the other hand, the most important commodity groups that Egypt imported from Saudi Arabia included mineral fuels, mineral oils, and their distillation products worth $4.6bn; plastics and their products at $1.3bn; organic chemical products at $246.1m; aluminium and its products at $128.4m; and paper and paperboard at $90.4m.

According to the agency, the value of Saudi investments in Egypt amounted to $622m during FY2020/21, compared to the previous FY’s $651.2m — a decrease of 4.5%.

It also pointed out that the value of remittances from Egyptians working in Saudi Arabia reached $11.2bn, compared to $9.6bn — an increase of 17% — while the value of remittances by Saudis working in Egypt amounted to $18.5m, compared to $17.6m — an increase of 4.9%.