BRICS investments in Egypt hit $4.4b in FY22/23

BRICS countries’ investments in Egypt fell sharply to $4.4 billion in the fiscal year 2022/2023 from $19.5 billion in the previous year, according to the country’s official statistics agency CAPMAS latest data on Wednesday.

Saudi Arabia remained the top BRICS investor in Egypt, contributing $1.8 billion, followed by the UAE ($1.5 billion), China ($750 million), India ($154.4 million), and Russia ($125.9 million).

Egyptian investments in BRICS countries also dropped, reaching $17.3 billion in 2022/2023 from $22 billion in the prior year. Saudi Arabia continued to be the primary destination for Egyptian investments within BRICS, receiving $7.8 billion.

Attribution: Emailed CAPMAS report

Subediting: Y.Yasser