Egypt’s exports to Germany rise to 11% in the H1 ’24 – CAPMAS
Egypt’s exports to Germany totalled $463 million in the first half of 2024, an 11 per cent increase from $417 million in the same period of 2023. This growth underscores the strengthening economic ties between the two countries.
During the same period, Egyptian imports from Germany grew to $2 billion, up from $1.9 billion in the first half of 2023, reflecting a 5.3 per cent rise. The total trade exchange between Egypt and Germany reached $2.5 billion, a 4.2 per cent increase from $2.4 billion in the previous year.
Egypt’s main exports to Germany included vegetables and fruits, valued at $93 million; electrical and mechanical machinery and parts at $68 million; and ready-made clothing at $65 million. Other notable exports were fuel and mineral oils, totaling $50 million, and grains and oilseeds, amounting to $25 million.
On the import side, Egypt acquired $628 million worth of electrical and mechanical machinery and parts from Germany. Imports of cars and tractors totaled $464 million, while pharmaceutical products amounted to $206 million. Plastics and their products were valued at $111 million, and miscellaneous chemical products reached $61 million.
Moreover, German investments in Egypt totalled $196.4 million for the first half of the fiscal year 2023/2024, slightly down from $199.6 million in the same period of the previous fiscal year. Conversely, Egyptian investments in Germany amounted to $97.9 million, down from $131.4 million in the first half of the fiscal year 2022/2023.
Remittances from Egyptians working in Germany reached $129.8 million for the fiscal year 2022/2023, a decrease from $203.3 million the previous year. German remittances from Egypt totaled $15.2 million, up from $9.7 million the year before.
As of September 2024, Egypt’s population stands at 106.8 million, while Germany’s population is 83.2 million. At the end of 2023, an estimated 128,000 Egyptians were residing in Germany.
Attribution: CAPMAS
Subediting: M. S. Salama
