The volume of trade exchange between Egypt and Saudi Arabia reached 10.4 billion dollars in 2022 up from 9.1 billion dollars in the year before, a report by the Central Agency for Public Mobilization and Statistics (CAPMAS) stated Monday.
This is a 13.5-percent rise, the CAPMAS report noted.
Egypt’s exports to Saudi Arabia amounted to nearly 2.5 billion dollars during 2022, CAPMAS said, pointing to an 11.2-percent increase on an about 2.2 billion dollars worth of Egyptian exports to the kingdom the year before.
Egypt’s imports from Saudi Arabia reached 7.9 billion dollars during 2022, recording a 14.3-percent increase on the value of imports from the kingdom, which was 6.9 billion dollars in 2021, the report said.
It made it clear that copper topped the list of Egyptian exports to Saudi Arabia with 245.9 million dollars. Coming second in the list was fruits with 227.4 million dollars then mineral fuels and oils in the third place with 215.5 million dollars.
Mineral fuels and oils were first in the list of Egypt’s imports from Saudi Arabia in 2022 at a total value of five billion dollars, CAPMAS said.
Plastic imports from Saudi Arabia came second in 2022 at a total value of 1.8 billion pounds, while organic chemicals came third at a total value of 272 million dollars, it added.
The CAPMAS report put the value of Egyptian investments in Saudi Arabia during the fiscal year 2021-2022 at 491.6 million dollars, compared with 325.3 million dollars in the year before.
Remittances of Egyptians working in the kingdom amounted to some 11.2 billion dollars during the fiscal year 2020-2021, compared with 9.6 billion dollars in the year before, the report added.