UAE investments in Egypt increase 170% in 6 months

Data from the Central Agency for Public Mobilisation and Statistics in Egypt revealed yesterday that the value of Emirati investments in Egypt increased to $1.9 billion during the first half of the 2021-2022 fiscal year, compared to $712.6 million during the same period last year, a rise of 169.1 per cent.

The statistics indicated that the value of trade exchange between Egypt and the UAE increased to $1.2 billion during the first quarter of 2022, compared to $1.1 billion during the same period in 2021, an increase of 1.4 per cent, according to the official Emirates News Agency (WAM).

The value of Egyptian imports from the UAE decreased to $642.9 million during the first quarter of 2022, compared to $793.3 million during the same period in 2021, a decrease of 19 per cent.

Meanwhile, the value of Egyptian exports to the UAE increased to $576.7 million during the first quarter of 2022, compared to $340.2 million during the same period in 2021, an increase of 69.5 per cent.

According to the same data, the most prominent commodities that Egypt imported from the UAE during the first quarter of this year were plastics and plastic products with a value of $144.9 million, then pearls and precious stones with a value of $77.5 million, followed by fuel, mineral oils and their distillation products worth about $67.6 million, then iron and steel to the value of $53.4 million, and fish worth $45.7 million.

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