Emirati investments in Egypt jump to $1.9B in H1 of 2021/22

CAIRO - 21 August 2022: Emirati investments in Egypt increased 169.1 percent during the first half of the 2021-2022 fiscal year, to $1.9 billion, compared to $712.6 million during the same period of the fiscal year 2020-2021, according to the state-statistic body.

 

The Central Agency for Public Mobilization and Statistics (CAPMAS) revealed, in a statement, Sunday, that trade exchange between Egypt and the United Arab Emirates (UAE) rose 1.4 percent to about $1.2 billion during the first quarter of 2022, compared to $1.1 billion during the same period in 2021.

 

It stated that the most prominent commodity groups that Egypt imported from the UAE during the first quarter of 2022 were plastics and their products with a value of $144.9 million, then natural pearls and precious stones with a value of $77.5 million, followed by fuels, mineral oils and their distillation products with about $67.6 million, then iron and steel with $53.4 million, and fish by $45.7 million.

 

As for the most important commodity groups exported by Egypt to the UAE during the first quarter of 2022, natural pearls and precious stones came at the top of the list with $351.6 million, machinery, electrical appliances and parts recorded $64.1 million, fruits with a value of $29.4 million, and clothes worth $24.9 million.

 

Moreover, remittances from Egyptians expatriates in the UAE amounted to $3.5 billion during the 2020-2021 fiscal year, compared to $3.4 billion during the 2019-2020 fiscal year, an increase of 1.4 percent.

 

It noted that the value of remittances from Emiratis working in Egypt amounted to $39.1 million during the 2020-2021 fiscal year, compared to $41 million during the fiscal year 2019-2020, with a decrease of 4.6 percent.

 

The number of Egyptians in the UAE, according to the mission's estimates, reached 950,000 Egyptians until the end of 2020.

 

The population of Egypt recorded 103.8 million people in 2022, while the population of the UAE recorded 10.1 million people in 2022.