UAE-Egypt trade hits $6b in 2024 – CAPMAS

Egypt NewsFeaturedIndustry & Trade
By Nada Ali

Trade between Egypt and the United Arab Emirates climbed 31.6 per cent to $6 billion in 2024, up from $4.5 billion a year earlier, according to data released by Egypt’s state statistics agency CAPMAS on Wednesday. The release coincided with President Abdel Fattah El-Sisi’s official visit to Abu Dhabi.

Egyptian exports to the UAE surged 46.9 per cent year-on-year to $3.3 billion, while imports from the Gulf state rose 16.8 per cent to $2.7 billion in 2024.

Key Egyptian exports included:

  • Jewellery and precious stones – $2.1 billion

  • Electrical machinery and equipment – $293 million

  • Vegetables and fruits – $206 million

  • Mineral fuels and oils – $106 million

  • Ready-made garments – $68 million

Top UAE exports to Egypt featured:

  • Copper and products – $750 million

  • Plastics – $486 million

  • Mineral fuels and oils – $473 million

  • Paper products – $125 million

  • Seafood – $102 million

Remittances from Egyptians working in the UAE declined to $1.8 billion in the 2023/2024 fiscal year from $2.1 billion the previous year. Emirati remittances to Egypt also slipped to $31.6 million, down from $35.5 million.

Meanwhile, UAE investments in Egypt soared to $38.9 billion in the 2023/2024 year, a sharp increase from $3 billion the prior year. Egyptian investments in the UAE, however, declined to $1.4 billion, compared to $1.7 billion in the 2022/2023 year.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser

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