Egypt & G7 countries trade exchange hits $25B in 2023: CAPMAS

CAIRO – 26 June 2024: The trade exchange between Egypt and the G7 countries amounted to $26 billion in 2023, showing a decrease from $31.3 billion in 2022, according to the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

 

The value of Egypt’s exports to the G7 countries in 2023 was $8.6 billion, compared to $11.4 billion in 2022. 

 

Italy ranked first among the G7 countries, importing goods worth $3.2 billion from Egypt. The United States of America followed with imports valued at $1.9 billion, while the United Kingdom imported goods worth $1.2 billion.

 

 France imported goods totaling $855 million, and Germany imported goods worth $829 million. Canada’s imports from Egypt amounted to $522 million, and Japan concluded the list with imports worth $55 million.

 

The most significant commodity groups exported to the G7 countries in 2023 were fuel and mineral oils ($1.39 billion), ready-made clothing ($1.35 billion), iron and steel ($679 million), vegetables and fruits ($674 million), and fertilizers ($569 million).

 

On the other hand, the value of Egypt’s imports from the G7 countries in 2023 was $17.4 billion, compared to $19.9 billion in 2022.

 

 The United States of America topped the list of exporters to Egypt with imports valued at $5.4 billion. Germany followed with $4.1 billion, Italy with $3.2 billion, the United Kingdom with $1.8 billion, France with $1.6 billion, Japan with $809 million, and Canada with $434 million.

 

The most significant groups of goods Imported from the G7 countries in 2023 were machinery and electrical appliances ($3.6 billion), fuels and mineral oils ($1.9 billion), pharmaceutical products ($1.7 billion), cars, tractors, and bicycles ($1.52 billion), and iron and steel ($1.51 billion).

 

Regarding investments, the G7 countries invested a total of $8.1 billion in Egypt during the fiscal year 2022/2023, compared to $7 billion in the previous fiscal year.

 

 Italy led the pack with investments amounting to $2.6 billion, followed by the United States of America with $2.3 billion, and the United Kingdom with $2 billion. 

 

France invested $591.3 million, Germany invested $355.7 million, Canada invested $113.5 million, and Japan concluded the list with investments of $68.4 million.

 

On the other hand, the value of Egyptian investments in the G7 countries during the fiscal year 2022/2023 was $7.32 billion, slightly lower than the $7.34 billion recorded in the fiscal year 2021/2022.