Egypt-India trade surges to $6 billion in 2022, reflecting 13.7% increase

CAIRO - 24 June 2023: The Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed data indicating a rise in the value of trade exchange between Egypt and India, reaching $6 billion in 2022, compared to $5.3 billion in 2021, marking a 13.7 percent increase.

Egyptian exports to India recorded a value of $1.9 billion in 2022, reflecting a 6.5 percent decrease from $2 billion in 2021. Meanwhile, the value of Egyptian imports from India amounted to $4.1 billion in 2022, showing a significant 26.4 percent increase from $3.2 billion in 2021.

Key Egyptian Exports to India in 2022:

1. Mineral fuels, mineral oils, and their products distillates valued at $1.1 billion.

2. Fertilizers valued at $242.1 million.

3. Inorganic chemical products valued at $240.8 million.

4. Salt and sulfur valued at $91.5 million.

5. Cotton valued at $76.8 million.

Key Egyptian Imports from India in 2022:

1. Meat valued at $669.2 million.

2. Iron and steel valued at $538.8 million.

3. Mineral fuels, mineral oils, and their products distillates valued at $448.2 million.

4. Organic chemical products valued at $358.4 million.

5. Boilers, machinery, and mechanical appliances valued at $274.4 million.

Additionally, Indian investments in Egypt reached $33.1 million during the first half of the fiscal year 2022/2023, compared to $24.2 million during the same period in 2021/2022, reflecting a 36.8 percent increase.

Moreover, remittances from Egyptians working in India amounted to $6 million during the fiscal year 2021/2022, showing a 3.6 percent increase from $5.8 million in 2020/2021. On the other hand, remittances from Indians working in Egypt reached $16.3 million during the fiscal year 2021/2022, exhibiting a 13.8 percent increase from $14.3 million in 2020/2021.

The steady growth in Egypt-India trade relations demonstrates the deepening economic ties between the two countries.

With increasing trade volumes and investments, the bilateral partnership is set to bolster economic development and diversification in both nations. The expansion of trade exchanges opens up new avenues for collaboration in various sectors, promoting technological transfer, job creation, and fostering mutual prosperity.