Egypt’s trade with D-8 reaches $7.9b in 10m

The volume of trade exchange between Egypt and the D-8 Organisation for Economic Cooperation member states increased to reach $7.9 billion during the first 10 months of 2024, compared to $8 billion during the same period in 2023.

Meanwhile, Egyptian exports to the D-8 Organisation for Economic Cooperation reached $3.1 billion during the first ten months of 2024, compared to $3.7 billion during the same period in 2023, the Central Agency for Public Mobilisation and Statistics reported.

Türkiye was the top importer from Egypt among developing countries in the first 10 months of 2024, with exports reaching $2.6 billion. Following Türkiye were Nigeria at $119.8 million, Indonesia at $109.5 million, Pakistan at $88.7 million, Malaysia at $77.4 million, Bangladesh at $61.2 million, and Iran at $2.5 million.

Türkiye was the leading exporter to Egypt among developing countries in the first 10 months of 2024, with $2.7 billion worth of goods imported. Indonesia, Malaysia, Nigeria, Pakistan, Bangladesh, and Iran followed with varying amounts.

CAPMAS report revealed that remittances from Egyptians working in the D-8 Organisation for Economic Cooperation reached $71.1 million during the fiscal year 2022/2023, compared to $70 million during the fiscal year 2021/2022.

Meanwhile, remittances from workers from the D-8 Organisation for Economic Cooperation in Egypt amounted to $20.6 million during the fiscal year 2022/2023, compared to $21.5 million during the fiscal year 2021/2022.

However, investments from the D-8 Organisation for Economic Cooperation in Egypt reached $100.8 million during the fiscal year 2022/2023, compared to $47.6 million during the fiscal year 2021/2022.

Egyptian investments in the G-8 Developing Countries Group reached $939 million during the fiscal year 2022/2023, compared to $1.2 billion during the fiscal year 2021/2022, the report added.

The D-8 Organisation for Economic Cooperation includes Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Türkiye. It was established through the Istanbul Declaration on June 15, 1997.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama