Trade exchange between Egypt, Cyprus records $79M in 2023

The volume of the trade exchange between Egypt and Cyprus Witnessed a rise of 21.8 percent in 2023, to record $79 million, compared to $64.8 million in 2022, according to the data released by Central Agency for Public Mobilization and Statistics (CAPMAS).

Egypt's exports to Cyprus increased by 20.3 percent during 2023, to record $70.5 million, compared to $58.6 million during 2022, according to CAPMAS.

Egypt's most important commodity export to Cyprus was iron and steel, valued at $35.1 million, Fertilizers worth $6.5 million, paper and paper pastes worth $5.8 million, plastics and manufactures worth $5.2 million, and vegetables worth $1.9 million.

Egypt's Imports from Cyprus increased by 36 percent during 2023, to record $8.4 million, compared to $6.2 million during 2022.

Cypriot investments in Egypt amounted to $ 35.2 million during the fiscal year 2023/2202, compared to $ 67.5 million during the fiscal year 2022/222, a low of 47 percent.

Recently, President Abdel Fatah al-Sisi received his Cypriot counterpart Nikos Christodoulides at Al Itihadiyah Presidential Palace as they discussed cooperation in the energy sector and bolstering relations on the bilateral level and the trilateral level with Greece.