Egypt-Kuwait trade volume drops to $3b in ’23 – CAPMAS

By Aya El Sayed On May 1, 2024

Egypt’s President Abdel Fattah al Sisi awarded Emir of Kuwait, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah ‘Order of the Nile’, Egypt's highest state honor on Tuesday during his visit to Cairo. Credit: Egypt Today.

The trade volume between Egypt and Kuwait reached $3 billion in 2023, down from $3.4 billion in 2022, as announced by the Central Agency for Public Mobilisation and Statistics (CAPMAS) on Tuesday, April 30, 2024.

Egypt’s exports to Kuwait were $315 million in 2023, down from $428 million in 2022. Meanwhile, Egypt’s imports from Kuwait were $2.7 billion in 2023, down from $3 billion in 2022.

Egypt’s exports to Kuwait in 2023 included $65 million in electrical appliances, $64 million in vegetables and fruits, $16.3 million in vegetable and fruit preparations, $15.1 million in essential oils, and $13.5 million in ready-made clothes.

Egypt’s imports from Kuwait in 2023 included $2.7 billion in fuels, oils, and distillation products, $12.2 million in organic products, and $10.2 million in plastics and their products.

The value of Kuwaiti investments in Egypt was $632.6 million in the fiscal year 2022-2023, down from $669.3 million in 2021-2022.

The value of remittances from Egyptians working in Kuwait was $2 billion in the fiscal year 2022-2023, down from $4.5 billion in 2021-2022. Meanwhile, the value of remittances from Kuwaitis working in Egypt was $4 million in the fiscal year 2022-2023, down from $8 million in 2021-2022.

This report is part of CAPMAS’s keenness to monitor the activities of economic relations between Egypt and Kuwait.