Egypt's Exports to Somalia Surge By 27.7% in 2023: CAPMASSource: www.export-egypt.com 1/21/2024, Location: Africa |
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The value of Egypt's exports to Somalia marked a growth of 27.7 percent during the period from January to November 2023, to reach $54 million, compared to $42.3 million during the same period of 2022, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
During the first 11 months of 2023, the volume of trade exchange between Egypt and Somalia Surged by 26.5 percent, to record $56.3 million, compared to $44.5 million during the same period in 2022. According to CAPMAS, Egypt exports to Somalia various commodities, including milling and starch products valued at $28.7 million, chemical products valued at $4.7 million, and pharmaceutical products valued at $4.2 million. Additionally, Egypt exported dairy products valued at $2.8 million and vegetable and fruit preparations valued at $2.5 million. The value of Egyptian imports from Somalia reached $2.2 million during 2023, compared to $2.2 million during 2022. The primary commodities imported by Egypt from Somalia were animals valued at $1.2 million and gum and plant extracts valued at $950,000. In terms of investments, Somali investments in Egypt reached $154,000 during the fiscal year 2022/2021, according to CAPMAS data. This data coincided with the meeting between President Abdel Fatah El-Sisi and Somali President Hassan Sheikh Mahmoud, who visited Egypt to discuss strengthening bilateral cooperation and regional developments. |
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