Egypt-Somalia trade exchange surges to $127.7m in ’24

The trade exchange between Egypt and Somalia reached $127.7 million in 2024, a substantial increase from $58.2 million in 2023, according to a Central Agency for Public Mobilisation and Statistics (CAPMAS) report released on Thursday.

Egyptian exports to Somalia surged to $122.9 million in 2024, up from $55.8 million in 2023, while imports from Somalia rose to $4.8 million, compared to $2.4 million the previous year, the report added.

Key Egyptian exports included milling products ($60 million), sugar products ($29 million), tobacco ($6 million), pharmaceutical products ($6 million), and prepared vegetables and fruits ($3 million).

Egyptian remittances from Somalia rose to $884,000 in the 2023/2024 fiscal year, up from $299,000 in the previous year. Conversely, Somali remittances from Egypt dropped to $3,000 in 2023/2024, down from $14,000 in 2022/2023.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama

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