The value of trade exchange between Egypt and Saudi Arabia increased by 66.1% in the first 11 months of 2021, amounting to $8.3 billion compared to five billion during the same period in 2020, data from the country's statistics agency CAPMAS showed Tuesday.
During the same period in 2021, Egypt’s exports to the Kingdom rose by 21% to reach two billion dollars, up from $1.6 billion during the same period in 2020.
Meanwhile, the total value of the country's imports from the Kingdom amounted to $6.3 billion, up from $3.4 billion, showing a growth of 88.2% over 2020.
According to the released data, Egypt’s exports of fuel, mineral oils and their distillation products were ranked first with a total value of $449 million, followed by fruits at $158.9 million, iron and steel at $131.2 million, copper at $100 million, and finally vegetables and plants at $92.5 million.
Among the most important commodity products Egypt imported from Saudi Arabia during the first 11 months of 2021 are fuels, mineral oils and their distillation products at a value of $4.2 billion.
Then come plastics and their manufactured products at $1.2 billion, organic chemical products at $221.7 million, aluminum and its manufactured products at $117.5 million, and paper and its products at $76.7 million.
The value of remittances from Egyptians working in Saudi Arabia amounted to $9.6 billion during the fiscal year 2019-20, compared to $8.5 billion during FY 2018-19, up 12.4 percent, CAPMAS showed.
It revealed that the value of remittances from Saudis working in Egypt reached $17.6 million during DY 2019-20, compared to $21.4 million during FY 2018-19, down 17.6%.
The data also revealed that the value of Saudi investments in Egypt amounted to $325.6 million during FY 2020-21, compared to $356.2 million during FY 2019-20, down 8.7%.
