Egypt-Saudi trade exchange up in ’24 – CAPMAS

Egypt’s exports to Saudi Arabia saw a 25.9 per cent increase in 2024, reaching $3.4 billion compared to $2.7 billion in 2023, according to a report published by the Central Agency for Public Mobilisation and Statistics (CAPMAS) on Sunday.

Egyptian imports from Saudi Arabia increased 43.6 per cent to $7.9 billion in 2024 from $5.5 billion in the previous year, leading to a total trade exchange growth of 37.8 per cent to $11.3 billion in 2024 from $8.2 billion in 2023.

Top Egyptian Exports to Saudi Arabia in 2024:

1. Pure copper wire – $645 million.
2. Vegetables and fruits – $397 million.
3. Iron and Steel – $222 million.
4. Ready-made garments – $202 million.
5. Furniture – $91 million.

Main Imports from Saudi Arabia to Egypt in 2024:

1. Fuels, mineral oils, and their products – $5.6 billion.
2. Plastics and its products – $1.3 billion.
3. Organic Chemical Products – $285 million.
4. Aluminum – $213 million.
5. Paper products – $109 million.

Saudi investments in Egypt totalled $775.5 million in the 2023/2024 fiscal year, down from $2.4 billion in 2022/2023. Conversely, Egyptian investments in Saudi Arabia reached $190 million, compared to $272.1 million the previous year.

Egyptian remittances from Saudi Arabia were $8 billion in the 2023/2024 fiscal year, down from $8.3 billion in 2022/2023. Saudi remittances from Egypt were $11.6 million, down from $26.1 million in the previous year.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama