169.1% increase in value of Emirati investments in Egypt in 1H FY2021/22: CAPMAS

Newspaper Title: https://dailynewsegypt.com/

Newspaper Number:

Monday - 22 August 2022

Data released by the Central Agency for Public Mobilisation and Statistics (CAPMAS) on Sunday revealed that the value of Emirati investments in Egypt increased to $1.9bn during the first half (1H) of FY2021/22, compared to $712.6m in 1H FY2020/21 — an increase of 169.1%.

The statistics also indicated that the value of trade exchange between Egypt and the UAE increased by $1.2bn during the first quarter (1Q) of 2022, compared to $1.1bn during 1Q 2021 — an increase of 1.4%.

Furthermore, the value of Egyptian imports from the UAE decreased to $642.9m in 1Q 2022, compared to $793.3m — a decrease of 19% — while the value of Egyptian exports to the UAE increased to $576.7m, compared to $340.2m — an increase of 69.5%.

The most important commodity groups exported by Egypt to the UAE during 1Q 2022 included natural pearls and precious stones worth $351.6m; machines, electrical appliances, and parts worth $64.1m; fruits worth $29.4m; clothes worth $24.9m; and vegetables and plants worth $19.7m.

On the other hand, the most important commodity groups imported by Egypt from the UAE included plastics and their products at a value of $144.9m; natural pearls and precious stones at $77.5m; fuels, mineral oils, and their distillation products at $67.6m; iron and steel at a value of $53.4m; and fish worth $45.7m.

Additionally, according to the agency, the value of remittances from Egyptians working in the UAE amounted to $3.5bn during FY2020/21, compared to FY2019/20’s $3.4bn — an increase of 1.4% — while the value of remittances from Emiratis working in Egypt amounted to $39.1m, compared to $41m — a decrease of 4.6%.