Egypt’s trade with Germany hits €4.5 billion in 2018 – Cabinet

The volume of trade between Egypt and Germany hit €4.5 billion in 2018 and German investments in Egypt reached around $7.4 billion at the end of June 2018, said the  Egyptian Cabinet’s media centre on Wednesday.

An infograph posted on the centre’s official Facebook page shed light on the return of the German Mercedes Benz to the Egyptian market and Bosch pumping new investments in Egypt in addition to Siemens.

Egypt’s exports to Germany increased by 10.6 percent, reaching €361.3 million, from January to March 2019, compared to €326.5 million during the same period in 2018.

Egypt’s oil exports to Germany increased by 23.5 percent reaching €168.3 million from January till March 2019, compared to €136.3 million during the same period in 2018.

The infograph was posted coinciding with the visit to Germany by Prime Minister Moustafa Madbouly, who is leading Egypt’s delegation to the meetings of the German-Arab Economic Forum, a key economic and investment event for cooperation and establishing economic and trade partnerships.

Source: MENA