Trade between Egypt and Cyprus reached a total of $217 million during the first 11 months of 2024, more than doubling the $108 million recorded during the same period in 2023, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
Egypt’s exports to Cyprus showed remarkable growth, rising to $181 million in the first 11 months of 2024 from $96 million during the same period in 2023. Major export categories included iron and steel, which accounted for $92 million, fertilizers at $43 million, paper at $8 million, and plastics at $6 million.
On the import side, Egypt’s purchases from Cyprus increased to $36 million during the same timeframe, compared to $12 million in 2023. The most significant imported goods were fuel and mineral oils worth $28 million, electrical equipment and devices at $4 million, and pharmaceutical products at $1 million.
Investments between the two countries also experienced a significant boost. Cypriot investments in Egypt soared to $114.6 million during the 2023/2024 fiscal year, compared to $35.2 million in 2022/2023. Similarly, Egyptian investments in Cyprus grew to $40 million, up from $17.3 million in the previous fiscal year.
The figures highlight the strengthening economic relationship between Egypt and Cyprus, with both nations benefiting from expanding trade and investment activities across multiple sectors.
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