In a data set released today, the statistics agency revealed that trade between the two countries steadily rose by 1.4% to around $1.2 billion during Q1 2022 compared to Q1 2021’s $1.1 billion
Emirati investments in Egypt saw a significant climb during the first half of the previous fiscal year (FY 2021/2022), surging by 169.1% to hit $1.9 billion, compared to $712.6 million in H1 FY 2020/2021, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
Earlier today, President Al-Sisi welcomed President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan for his first official visit to Egypt. The two presidents met to boost strategic cooperation between the two countries, particularly within the economic and development fields.
In a data set released today, the statistics agency revealed that trade between the two countries steadily rose by 1.4% to around $1.2 billion during Q1 2022 compared to Q1 2021’s $1.1 billion.
Egypt’s exports to the UAE surged by 78.8% between the January and May months of 2022, reaching 874.676 million, compared to $489.173 million during the same period in 2021.
Egypt’s biggest exports to the UAE were natural pearls and precious stones with a value of $351.6 million; machines, electrical appliances and parts worth $64.1 million; fruits worth $29.4 million; clothes worth $24.9 million; and vegetables and plants worth $19.7 million.
Egypt’s biggest import from the UAE in Q1 2022 were Plastics and its products with an import value of $144.9 million; followed by natural pearls and precious stones with a value of $77.5 million; and fuels, mineral oils and their distillation products with about $67.6 million. Iron and steel followed with an import value of $53.4 million, and fish by $45.7 million.
