Trade exchange between Egypt, US increase 12.2% in 10 months

CAIRO - 30 January 2023: Trade exchange between Egypt and the United States (US) increased 12.2 percent during the first 10 months of 2022, recording $8 billion, up from $7.2 billion during the same period in 2021, according to the state statistics body.

 

The Central Agency for Public Mobilization and Statistics (CAPMAS) said on Monday that Egyptian exports to the US decreased 5.2 percent to reach $2 billion during the first 10 months of 2022, compared to $2.1 billion in the same period in 2021.

 

The CAPMAS added that Egyptian imports from the US hiked 19.3 percent, to reach $6 billion during the first 10 months of 2022 compared to $5.1 billion in the same period in 2021.

 

It revealed that the US investments in Egypt reached $9.2 billion during Fiscal Year (FY) 2020/2021, compared to $7.7 billion in FY 2019/2020, marking an increase rate of 19.8 percent.

 

It added that Egyptian remittances from the United States recorded $1.4 billion in FY 2020/2021, compared to $975.2 million in FY 2019/2020, with an increase of 40.9 percent.

 

Meanwhile, the remittances of Americans working in Egypt in the same fiscal year amounted to $42.8 million, compared to $49.9 million a year earlier, with a decrease of 14.1 percent.