Egypt-Saudi Arabia trade exchange increases 19.10% in 2022

Trade exchange volume between Egypt and Saudi Arabia hits 19.10 percent year-on-year to reach a $9.50 billion during the first 11 months of 2022, up from $7.90 billion, according to CAPMAS on Saturday.

Egypt exported goods worth $2.20 billion to Saudi Arabia in January-November 2022, up 7.50 year-on-year from $2 billion, CAPMAS’s data showed.

The Arab Republic’s imports from the Kingdom rose by 23.20 percent year-on-year to $7.30 billion in 11 months in 2022 from $5.90 billion.

Saudi investments in Egypt were valued at $491.60 million, an annual leap of 51.10 percent from $325.30 million, during fiscal year 2021/2022.

Egypt imported from Saudi Arabia organic chemical products worth $258.4 million, aluminum has reached $157.7 million, while inorganic chemical products worth $53 million.

Remittances of Egyptians working in Saudi Arabia hit $11.20 billion in fiscal year 20/21, higher by 17 percent than $9.60 billion in fiscal year19/20.

The remittances of Saudi citizens working in Egypt grew by 4.90 percent year-on-year to $18.50 million in fiscal year 20/21 from $17.60 million.