21.7% Increase in Trade Exchange Between Egypt, GCC States in 2021Source: www.export-egypt.com 7/16/2022, Location: Africa |
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The trade exchange between Egypt and the Gulf Cooperation Council (GCC) member states increased 21.7 percent to record 16.1 billion dollars in 2021, up from 13.3 billion in 2020, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed.
Egypt exports to GCC states hit 4.5 billion dollars in 2021, down from 5.4 billion in 2020 by 16.8 percent. Saudi Arabia led GCC countries imports from Egypt, as Egypt exports to Saudi Arabia reached 2.2 billion dollars, followed by the UAE 1.3 billion, then Bahrain 450.7 million dollars, Kuwait 320.7 million dollars, Oman 163.3 million dollars, and Qatar 4.5 million dollars. Egypt imports from GCC states rose 47.9 percent to 11.7 billion in 2021, up from 7.9 billion in 2020. Saudi Arabia also topped the GCC exports to Egypt by 6.9 billion dollars, followed by the UAE 2.4 billion dollars, then Kuwait 1.4 billion dollars, after that Bahrain 466.5 million dollars, Oman 422.9 million dollars, and Qatar 40.3 million dollars. The remittances of Egyptian expats, working in the GCC states, increased 11.1 percent to 20.9 billion dollars in the fiscal year 2020/2021, up from 18.8 billion dollars in the previous year. The GCC states' investments in Egypt slightly increased to 3.9 billion dollars in the fiscal year 2020/2021, compared to 3.8 billion in the previous year, with UAE is the highest GCC states investing in Egypt by 2.8 billion dollar investments. |
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