CAIRO - 12 October 2023: The value of Egyptian exports to South Korea achieved a significant increase by the end of 2022, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
The Egyptian exports value reached $2 billion during 2022, compared to $618.6 million during 2021, recording an increase of 219.5 percent.
The rise in Egyptian exports played a major role in increasing the value of trade exchange with South Korea, which recorded $3.9 billion in 2022, compared to $2.4 billion in 2021, recording an increase of 62.9 percent.
The most important commodity groups exported by Egypt to South Korea during 2022 are as follows:
1. Fuel and mineral oils worth $1.8 billion.
2. Food industry waste worth $46 million.
3. Stone and cement products worth $23.8 million.
4. Fruits worth $1.7 million.
5. Fertilizers worth $1.2 million.
The value of South Korean investments in Egypt amounted to $311.6 million during the fiscal year 2021/2022, compared to $162.6 million during the fiscal year 2020/2021, recording an increase of 91.6 percent.
The value of remittances from Egyptians working in South Korea recorded $30.1 million during the fiscal year 2021/2022, compared to $2.9 million during the fiscal year 2020/2021, recording an increase of 951.4 percent.
While the value of remittances from South Koreans working in Egypt amounted to 3.7 million dollars during the fiscal year 2021/2022, compared to 3.5 million dollars during the fiscal year 2020/2021, with an increase of 4.8 percent.
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