U.S. investments in Egyptian startups rise 4.5% in 2018 – CAPMAS

The U.S. investments in new companies in Egypt increased 4.5 percent to around $4.6 million in 2018 from $4.4 million in 2017, according to a report.

“The volume of exchange rate between the two countries (Egypt and U.S.) rose 35.9 percent to $7.117 billion last year against $5.235 billion in 2017,” Egyptian state-run statistics agency CAPMAS said in its annual bulletin on Wednesday.

The volume of Egypt’s exports to U.S. rose 25.7 percent year-on-year to around $1.717 billion in 2018, representing a 5.6 percent share of Egyptian exports worldwide, CAPMAS showed.

Egypt topped the list of the ready-made garments exporters to U.S., with $795.7 million in 2018, a 9.5 percent growth from $726.8 million a year earlier.

Egypt’s imports from U.S. rose 39.6 percent year-on-year to $5.4 billion, reflecting a 6.7 percent share of Egypt’s imports from worldwide, the agency said.

Egypt’s imports of oil seeds and oleaginous fruit from the U.S. were on top of the list, registering $1.182 billion versus $391.8 million, marking a 201.7 percent growth.