Egypt and Saudi Arabia strengthen bilateral trade

Cairo, Feb 24 (Prensa Latina) The trade exchange value between Egypt and Saudi Arabia amounted to 9.5 billion dollars during the first 11 months of 2022, a year-on-year growth of 19.1 percent, an official source reported on Friday.

February 24, 2023
09:45

The Central Agency for Public Mobilization and Statistics (CAPMAS) stated in a dispatch that during that period, Egypt exported goods worth 2.2 billion dollars to Saudi Arabia, an increase of 7.5 percent.

Meanwhile, this nation’s imports from the Kingdom totaled 7.3 billion dollars, a rise of 23.2 percent compared to the same period in 2021.

According to CAPMAS data, during the 2021-2022 fiscal year, Saudi investments in Egypt were valued at 491.6 million dollars, a leap of 51.1 percent.

Meanwhile, remittances of Egyptians working in Saudi Arabia reached 11.2 billion dollars in that period, higher by 17 percent.

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