Volume of trade exchange between Egypt, GCC countries in 2021 estimated at $16.1bn
Newspaper Title: https://dailynewsegypt.com/
Newspaper Number:
Saturday - 16 July 2022
Data from the Central Agency for Public Mobilisation and Statistics (CAPMAS) showed on Saturday an increase in the value of trade exchange between Egypt and the Gulf Cooperation Council’s (GCC) countries, recording $16.1bn during 2021, compared to $13.3bn in 2020 — an increase of $2.9bn or 21.7%.
The agency also indicated that the value of Egyptian exports to GCC countries amounted to $4.5bn, compared to $5.4bn — a decrease of 16.8%.
Furthermore, Saudi Arabia topped the list of GCC countries importing from Egypt during 2021, with the value of Egypt’s exports reaching $2.2bn, followed by the UAE at $1.3bn, Bahrain at $450.7m, Kuwait at $320.7m, Oman at $163.3m, and finally Qatar at $4.5m.
On the other hand, the value of Egyptian imports from GCC countries increased to $11.7bn in 2021, compared to $7.9bn in 2020 — an increase of $3.8bn or 47.9%.
According to the agency, Saudi Arabia topped the list of GCC countries exporting to Egypt during 2021, with Egypt importing goods from the kingdom worth $6.9bn, followed by the UAE at $2.4bn, Kuwait at $1.4bn, Bahrain at $466.5m, Oman at $422.9m, and Qatar at $40.3m.
Additionally, CAPMAS indicated that the value of remittances from Egyptians working in GCC countries increased to $20.9bn during FY2020/21, compared to the previous FY’s $18.8bn — an increase of 11.1%.
Saudi Arabia ranked first in the list of the highest countries in the Gulf Cooperation Council in the value of remittances by Egyptians, as the value of remittances by workers amounted to $11.2bn, followed by Kuwait with $4.4bn, UAE with $3.4bn, then Qatar $1.5bn, Oman $162m, and finally Bahrain with $104.1m.
Also, yhe value of GCC investments in Egypt recorded $3.9bn, compared to $3.8bn — an increase of 1.9%.
The UAE ranked first in the list of GCC countries with the highest investment in Egypt with its investments in the country recording $2.8bn, followed by Saudi Arabia at $622m, Kuwait at $217.8m, Bahrain at $160.4m, Oman at $68.8m, and finally Qatar at $59.8m.
