The value of Emirati investments in Egypt surged by 169.1% to $1.9 billion during the first half of the fiscal year 2021/22 compared to $712.6 million during the same time previous year.
According to Statistics Authority statistics, the value of trade exchange between Egypt and the UAE in the first quarter of 2022 is $1.2 billion, up from $1.1 billion in the same time in 2021, a 1.4 percent gain.
The value of Egyptian imports from the UAE fell by 19% to $642.9 million in the first quarter of 2022, from $793.3 million in the same time in 2021.
Egyptian exports to the UAE increased by 69.5% to $576.7 million in the first quarter of 2022, up from $340.2 million in the same time in 2021.
Egypt’s top commodity groupings shipped to the UAE in the first quarter of the year were:
$351.6 million in natural pearls and precious stones
$64.1 million in machinery, electrical appliances, and components
$29.4 million in fruits
$24.9 million in clothing.
$19.7 million in vegetables and plants
The following are the top commodity groups that Egypt imported from the UAE during the first quarter of the year:
Plastics and items thereof, worth $144.9 million.
$77.5 million in natural pearls and precious stones
Fuels, mineral oils, and distillation products worth $67.6 million.
$53.4 million in iron and steel
$45.7 million in fish
Remittances from Egyptians working in the UAE totaled 3.5 billion dollars in fiscal year 2020/2021, up from 3.4 billion dollars in fiscal year 2019/2020, a 1.4 percent rise.
Remittances from Emiratis working in Egypt totaled $39.1 million in fiscal year 2020/2021, compared to $41 million in fiscal year 2019/2020, a 4.6% reduction.
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