CAIRO - 10 November 2024: Trade exchange between Egypt and Malaysia reached $574 million during the first nine months of 2024, data from the Central Agency for Public Mobilization and Statistics (CAPMAS) showed.
The CAPMAS report also highlighted a significant surge in Malaysian investments in Egypt, which rose to $24 million in the 2022/2023 fiscal year, a substantial increase from the $5.1 million seen in 2021/2022. Similarly, Egyptian investments in Malaysia experienced growth, reaching $198.9 million in the 2022/2023 fiscal year compared to $180.6 million the previous year.
Egyptian exports to Malaysia were valued at $68 million in the January-September period of 2024, down from $76 million in the same period of 2023. Meanwhile, imports from Malaysia to Egypt were recorded at $506 million, showing a slight decrease from $550 million in 2023.
Remittances from Egyptians working in Malaysia decreased to $6.6 million in the 2022/2023 fiscal year, down from $9.6 million in 2021/2022. Conversely, remittances sent by Malaysians working in Egypt were recorded at $2.3 million for 2022/2023, marginally lower than the $2.4 million sent in 2021/2022.
Among Egypt's main exports to Malaysia in the first nine months of 2024 were vegetables and fruits, which totaled $30 million. Other key exports included ground natural calcium phosphate at $17 million, aluminum and aluminum products valued at $7 million, and plastics and plastic goods worth $3 million.
On the import side, Egypt’s primary imports from Malaysia featured vegetable and animal oils and fats, valued at $321 million. This was followed by electrical and mechanical equipment and parts worth $40 million, rubber products at $37 million, organic chemicals amounting to $20 million, and cocoa products valued at $16 million.
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