The value of trade exchange between Egypt and Somalia reached $56.3 million during the period from January to November 2023, compared to $44.5 million during the same period in 2022, in a 26.5% increase, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).

According to CAPMAS, during the first 11 months of 2023, the value of Egypt's exports to Somalia increased to $54 million, compared to $42.3 million in an 27.7% increase during the same period of 2022.

The most important commodities exported by Egypt to Somalia are milling and starch products worth $28.7 million, chemical products worth $4.7 million, pharmaceutical products worth $4.2 million.

Followed by dairy products worth $2.8 million, vegetable and fruit preparations worth $2.5 million.

The value of Egyptian imports from Somalia reached $2.2 million during 2023, compared to $2.2 million during 2022.

The most important commodities imported by Egypt from Somalia: animals worth $1.2 million, gum and plant extract worth $950,000.

The value of Somali investments in Egypt reached $154,000 during the fiscal year 2022/2021, CAPMAS data showed.

This data came in line with President Abdel Fatah El-Sisi's Meeting with Somali President Hassan Sheikh Mahmoud who is holding a visit to Egypt to discuss bolstering bilateral cooperation as well as regional developments.