Data from the Central Agency for Public Mobilization and Statistics in Egypt showed the development of the value of investments with Saudi Arabia, which achieved a significant jump in the last fiscal year 2023, compared to the corresponding period in the previous fiscal year 2022.
According to the Youm 7 website, “Total Saudi investments in Egypt recorded about $2.4 billion in the last fiscal year, an increase from $491.6 million during the comparison period, an increase of about $1.9 billion, an increase of about 474%.”
Statistics Authority data indicate that “the increase in the value of Saudi investments in Egypt was accompanied by an increase in the value of trade exchange between the two countries during the first 5 months of the current year 2024, to record 3.8 billion dollars, while it was about 2.9 billion dollars during the same period of last year 2023, an increase of 900 million dollars, an increase of 29.3%, as Egypt’s exports to the Kingdom of some commodities increased, the most important of which are copper and its products, fuel, mineral oils and their distillation products, fruits, machinery, appliances and electrical equipment, and finally products of iron or steel.”
According to the data, “Egypt’s most important imports from the Kingdom of Saudi Arabia included fuel, mineral oils and their distillation products, plastics and their products, organic chemical products, aluminum and its products, in addition to imports of inorganic chemical products, paper, sugar and sugar products, boilers, machinery, devices and mechanical tools.” , food preparations, and finally products made of iron or steel.”
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