Egypt-Arab trade volume drops to $26b in ’23 – CAPMAS

The trade volume between Egypt and Arab countries reached $26 billion in 2023, down from $29.5 billion in 2022. Egypt’s exports to Arab countries increased to $13.6 billion in 2023 down from $12.5 billion in 2022, while imports fell to $12.4 billion from $17 billion as announced by the Central Agency for Public Mobilisation and Statistics (CAPMAS).

Saudi Arabia led imports from Egypt with $2.7 billion, followed by the UAE ($2.2 billion), Libya ($1.8 billion), Sudan ($984.4 million), and Algeria ($850.3 million). Egypt’s exports included $1.1 billion in electrical appliances, $1 billion in pearls and jewellery, $1.3 billion in vegetables and fruits, $753 million in fuels and oils, and $712 million in plastics.

Saudi Arabia was also the top exporter to Egypt with $5.2 billion, followed by Kuwait ($2.7 billion), the UAE ($2.1 billion), Oman ($717.4 million), and Bahrain ($399.5 million). Imports included $6 billion in fuels and oils, $2 million in plastics, $785.1 million in mineral ores, $399.2 million in aluminium, and $213.3 million in fish and mollusks.

Arab investments in Egypt were $7.3 billion in FY 2022-2023, down from $8.2 billion in FY 2021-2022, with the UAE leading at $3 billion, followed by Saudi Arabia ($2.4 billion), Kuwait ($632.6 million), Qatar ($548.2 million), and Bahrain ($337 million).

Egyptian investments in Arab countries rose to $3 billion from $2.8 billion, with the UAE receiving $1.7 billion, followed by Saudi Arabia ($272.1 million), Kuwait ($221.2 million), Bahrain ($108.5 million), and Qatar ($86.8 million).

Remittances from Egyptians working in Arab countries dropped to $14.3 billion in FY 2022-2023 from $21.5 billion in FY 2021-2022, while remittances from Arab workers in Egypt fell to $94.5 million from $112 million.