The value of Turkish investments in Egypt recorded $167.2 million during the Fiscal Year 2022/2023 (FY22/23), compared to $179.9 million during FY21/22, a decrease of 7.1%, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).

According to CAPMAS, the volume of trade exchange between Egypt and Turkey recorded declined by 15.7% to hit $6.6 billion in 2023, compared to $7.8 billion in 2022.

The value of Egypt's exports to Turkey amounted to $3.8 billion during 2023, compared to $4 billion during 2022, a decrease of 4.8%, according to CAPMAS data.

The most important commodities exported by Egypt to Turkey in 2023, fuels and mineral oils worth $831.6 million, plastics worth $373.7 million, and fertilizers worth $357.4 million.

The value of Egypt's imports from Turkey reached $2.8 billion in 2023, compared to $3.8 billion in 2022, a decrease of 27%.

The most important commodities Egypt imported from Turkey in 2023, iron and steel valued at $551.2 million, machinery and electrical appliances valued at $640 million, and fuels and mineral oils valued at $169.4 million.

This came in line with the arrival of Turkish President, Recep Tayyip Erdogan, to Cairo to hold extensive talks with his Egyptian counterpart, President Abdel Fattah El-Sisi.

Additionally, Sisi and Erdogan will hold extensive talks to push forward ongoing efforts aimed at enhancing the bilateral relations between Egypt and Turkey.