In the past several years, the UAE has made substantial investments in Egypt, notably increasing and diversifying its economic activities across various sectors of the Egyptian economy in recent months.
The CAPMAS report comes as the President of the UAE Sheikh Mohamed bin Zayed Al Nahyan visits Egypt to discuss boosting strategic relations between the two countries with President El-Sisi, and also attend the five-country Arab summit - bringing together the leaders of Egypt, UAE, Bahrain, Iraq and Jordan - set for later today in New Alamein city.
The volume of trade exchange between the two Arab countries increased to $1.2 billion during the first quarter of 2022 up from $1.1 billion during the same period in 2021 - a 1.4 percent rise.
The volume of trade exchange between Egypt and UAE amounted to $3.623 billion in 2021.
Egypt's imports from the UAE declined by 19 percent to $642.9 million in the first quarter of 2022, down from $793.3 million during the same period in 2021.
However, Egyptian exports to the UAE increased by 69.5 percent to $576.7 million in the first quarter of 2022, up from $340.2 million during the same period in 2021.
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