Trade exchange between Egypt, Arab countries increased by 19% in first half of 2022: CAPMAS

Habiba Hamdy , El-Sayed Gamal El-Din , Tuesday 1 Nov 2022

Trade exchange between Egypt and Arab countries was estimated at $14.4 billion in the first half of FY 2022, up from $12.1 billion in the same period of 2021, recording a 19.2 percent increase, or $2.3 billion, according to the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS).

Containers
A file photo of containers.

 

Egypt's exports to Arab countries increased by 8.6 percent in the same period, recording $5.9 billion, compared to $5.4 billion in the first six months of 2021, CAPMAS said in a statement on Tuesday.

CAPMAS has further reported a 27.8 percent increase, nearly $1.9 billion, in the value of Egypt's imports from Arab countries during the first half of the current year. The total value of imports for this year is hence estimated at $8.5 billion, compared to $6.6 billion last year.

In the first half of 2022, Saudi Arabia ranked first in terms of importing from Egypt, followed by the UAE and Libya, with each recording imports values of $1.2 billion, $955.2 million and $525 million, respectively.

The list of Arab top importers from Egypt also included Sudan, Morocco, Jordan, and Algeria, with each recording import values of $441.4 million, $396.4 million, $361.8 million, and $352.8 million, respectively.

In addition, CAPMAS stated that the list included Iraq with $276.1 million worth of imports, Kuwait with $265.6 million worth of imports, and Lebanon with $220 million worth of imports.

Saudi Arabia was also among the top ten Arab exporters to Egypt during the first half of FY 2022, with exports valued at $4.3 billion, followed by Kuwait with exports valued at $1.4 billion and the UAE with exports valued at $1.3 billion.

Oman also exported  $412.5 million worth of goods to Egypt during the six-month period, while exports from Bahrain, Sudan  and Jordan amounted to $269.1 million, $261.6 million and $120.7 million, respectively.

Lebanon, Libya and Qatar recorded exports worth $108.4 million, $51.5 million and $39.5 million, respectively.

According to CAPMAS, remittances from Egyptian expats in Arab countries rose to $21.9 billion in FY 2020/2021, compared to $19.8 billion in FY 2019/2020, recording a 10.9 percent increase.

On the other hand, remittances from foreign Arabs in Egypt to their home countries have decreased by 2.5 percent, recording $114.9 million in FY2020/2021, down from $117.8 million in FY2019/2020.

Until June 2022, remittances from Egyptians in Saudi Arabia, Kuwait and the UAE amounted to $11.2 billion, $4.4 billion, and $3.4 billion respectively. In addition, remittances from Egyptians in Qatar, Jordan, Oman and Bahrain amounted to $1.5 billion, $774.2 million, $162 million, and $104.1 million, respectively.

Also, remittances from Egyptians in Yemen, Iraq, and Lebanon amounted to $79.9 million, $43.7 million, and $39.5 million, respectively.

According to CAMPAS, there has been a 0.4 decrease in the value of Arab investments in Egypt, from $4 billion in FY 2019/2020 down to $3.98 billion in FY 2020/2021.    

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