Egypt-Vietnam trade hits $634m in 2024 ahead of leaders’ talks in Cairo: CAPMAS

Trade between Egypt and Vietnam rose to $634 million in 2024 from $606 million a year earlier, Egypt’s statistics agency CAPMAS said on Tuesday, ahead of talks in Cairo between President Abdel Fattah al-Sisi and his Vietnamese counterpart Luong Cuon on boosting ties.

Egypt’s exports to Vietnam slipped to $52 million from $53 million, while imports climbed to $582 million from $553 million.

Egypt’s main exports to Vietnam in 2024 included:

• Cotton, yarn and textiles: $13 million

• Sugar and sugar products: $8 million

• Fruits and seeds: $4 million

• Electrical machinery and equipment: $4 million

• Plastics and related products: $3 million

Key imports from Vietnam were:

• Electrical machinery and equipment: $228 million

• Coffee, tea and spices: $83 million

• Rubber and rubber products: $60 million

• Fish, crustaceans and molluscs: $38 million

• Footwear and components: $24 million

Remittances from Egyptians working in Vietnam reached $1.2 million in the 2023/24 fiscal year, up from $898,000 a year earlier. Remittances from Vietnamese in Egypt fell to $133,000 from $372,000.

Vietnamese investment in Egypt jumped to $5.7 million in 2023/24 from $1.8 million, while Egyptian investment in Vietnam dropped to $29.4 million from $71.9 million.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser