HomeUAEUAE investments in Egypt up by 169%

UAE investments in Egypt up by 169%


CAIRO. 22 August – The data of the Egyptian Central Agency for Public Mobilisation and Statistics (CAPMAS) has revealed that the value of Emirati investments in Egypt increased to US$1.9 billion (AED6.98 billion) during the first half of the 2021-2022 fiscal year, compared to US$712.6 million (AED2.617 billion) during the same period of the fiscal year 2020-2021, an increase of 169.1 percent.

In a statement today, CAPMAS revealed that the value of the trade exchange between Egypt and the UAE increased to about US$1.2 billion during the first quarter of 2022, compared to US$1.1 billion during the same period in 2021, an increase of 1.4 percent.

According to the statement, the value of remittances from Egyptians working in the UAE reached US$3.5 billion during the 2020-2021 fiscal year, compared to US$3.4 billion during the 2019-2020 fiscal year, an increase of 1.4 percent. 

CAPMAS data showed that jewellery and gemstones led Egyptian exports to UAE with more than USD351.6 million, followed by machinery and electric devices USD64.1 million, fruits USD29.4 million anc clothes and fabrics with USD24.9 million.

Meanwhile imports from UAE to Egypt were led by plastic and plastic-based products with USD144.9 million, gemstones with USD77.5 million, oil and gas with USD67.7 million, and Iron with USD52.4 million.

Source: Zawya/Agencies


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