The Central Agency for Public Mobilization and Statistics (CAPMAS) reported an increase in the value of trade exchange between Egypt and G20 countries in 2022, reaching $88.1bn, compared to $80bn in 2021, an increase of $8.1bn or 10.1%.
CAPMAS explained that the value of Egyptian exports to G20 countries was $25.6bn in 2022, compared to $21.1bn in 2021, an increase of $4.5bn or 21.1%. Meanwhile, the value of Egyptian imports from G20 countries was $62.5bn, compared to $58.9bn, an increase of $3.6bn or 6.1%.
Turkey ranked first among the top ten G20 countries importing from Egypt in 2022, with Egypt’s exports valued at $4bn. Italy came in second place with $3.4bn, followed by Saudi Arabia with $2.5bn, America with $2.3bn, South Korea with $2bn, India with $1.9bn, China with $1.8bn, France with $1.8bn, the United Kingdom with $1.7bn, and Canada with $959.5m.
China topped the list of the top ten G20 countries exporting to Egypt in 2022, with the value of Egypt’s imports reaching $14.4bn.
Saudi Arabia came in second place with $7.9bn, followed by America with $6.8bn, Russia with $4.1bn, India with $4.1bn, Germany with $4bn, Turkey with $3.7bn, Brazil with $3.6bn, Italy with $3.5bn, and France with $2.2bn.
The agency reported that G20 countries invested a total of $24bn in Egypt during fiscal year (FY) 2021/22, up from $21.2bn in FY 2020/21, reflecting a 13.3% increase of $2.8bn.
Saudi Arabia ranked first among the top ten G20 countries investing in Egypt during FY 2021/2022 with investments worth $8.5bn. The US ranked second with investments worth $7bn, followed by the UK with $6.6bn, China with $369.4m, Germany with $331.6m, France with $315.6m, India with $266.1m, South Africa with $220.3m, Italy with $104.8m, and South Korea with $53.1m.
The agency also revealed that remittances from Egyptians working in G20 countries amounted to $14.3bn during FY 2021/2022, up from $13.9bn in FY 2020/2021, an increase of 2.9%.
Saudi Arabia ranked first among the top 10 G20 countries in terms of remittances from Egyptians working there, with a total of $11bn. The US ranked second with $1.7bn, followed by the UK with $863.8m, Germany with $203.3m, Canada with $138.5m, France with $120m, Italy with $106.3m, Australia with $59.4m, Brazil with $42.4m, and South Korea with $30.1m.
Source: Daily News Egypt