CAIRO – 14 February 2024: The volume of trade exchange between Egypt and Turkey recorded $6.6 billion in 2023, compared to $7.8 billion in 2022, a decline of 15.7 percent, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
According to CAPMAS, Turkish investments in Egypt amounted to $167.2 million in the Fiscal Year 2022/2023 (FY22/23), marking a 7.1 percent decline compared to the previous FY21/22 when it reached $179.9 million.
According to the data, Egypt's exports to Turkey totaled $3.8 billion in 2023, representing a decrease of 4.8 percent, compared to the previous year's figure of $4 billion.
The key commodities exported from Egypt to Turkey in 2023 included fuels and mineral oils valued at $831.6 million, plastics valued at $373.7 million, and fertilizers valued at $357.4 million.
Furthermore, Egypt's imports from Turkey amounted to $2.8 billion in 2023, indicating a decline of 27 percent, compared to the $3.8 billion recorded in 2022.
Notable imported commodities from Turkey by Egypt in 2023 included iron and steel valued at $551.2 million, machinery and electrical appliances valued at $640 million, and fuels and mineral oils valued at $169.4 million.
These data coincided with the visit of Turkish President Recep Tayyip Erdogan to Cairo, where he engaged in extensive discussions with his Egyptian counterpart, President Abdel Fattah El-Sisi.
President Sisi and Erdogan will hold comprehensive talks to advance ongoing efforts aimed at strengthening the bilateral relations between Egypt and Turkey.
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