CAIRO - 18 November 2024: Trade between Egypt and G20 countries surged to $61 billion in the first nine months of 2024, marking a significant increase from $55.6 billion during the same period in 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
Egyptian exports to G20 nations totaled $14.4 billion, slightly down from $14.9 billion in 2023. Italy remained the largest importer of Egyptian goods, with exports amounting to $2.9 billion, followed by Saudi Arabia ($2.4 billion), Turkey ($2.3 billion), the United States ($1.7 billion), and the United Kingdom ($1.2 billion).
Foreign investments from G20 nations in Egypt rose to $12 billion in the 2022/2023 fiscal year, up from $8.7 billion in 2021/2022. Egyptian investments in G20 countries also saw a slight increase, reaching $8.2 billion, compared to $7.9 billion the previous year.
Key Egyptian exports to G20 countries included fuels and mineral oils valued at $2.4 billion, vegetables and fruits at $1.7 billion, and ready-made garments worth $1.5 billion. Other notable exports included electrical equipment ($962 million), fertilizers ($961 million), plastics ($887 million), and iron and steel ($830 million).
On the import side, Egypt’s purchases from G20 countries rose to $46.6 billion in the first nine months of 2024, up from $40.7 billion during the same period in 2023. China continued to be Egypt’s largest supplier, with imports totaling $11.3 billion, followed by the United States ($5.2 billion), Saudi Arabia ($5.1 billion), Russia ($4.5 billion), and Germany ($3.3 billion). Other major suppliers included Brazil ($2.9 billion), Italy ($2.6 billion), Turkey ($2.4 billion), India ($2.2 billion), and the United Kingdom ($1.5 billion).
The primary commodities Egypt imported from G20 countries included machinery and electrical appliances ($8.2 billion), fuels and mineral oils ($6.9 billion), and iron and steel ($4.1 billion). Grains accounted for $3.4 billion of imports, while vehicles and parts were valued at $2.7 billion. Plastics and related products were worth $2.5 billion, and chemical products totaled $1.7 billion.
The report also revealed a decline in remittances from Egyptians working in G20 countries, which dropped to $11.1 billion in the 2022/2023 fiscal year, compared to $14.3 billion in the previous year. Saudi Arabia remained the largest source of remittances, contributing $8.3 billion, followed by the United States ($1.6 billion) and the United Kingdom ($560 million).
Meanwhile, remittances from G20 nationals working in Egypt fell to $215.6 million, down from $237.9 million in the previous fiscal year.
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