Data from the Central Agency for Public Mobilisation and Statistics (CAPMAS) showed on Saturday an increase in the value of trade exchange between Egypt and the Gulf Cooperation Council’s (GCC) countries, recording $16.1bn during 2021, compared to $13.3bn in 2020 — an increase of $2.9bn or 21.7%. The agency also indicated that the value of Egyptian exports to GCC countries amounted to $4.5bn, compared to $5.4bn — a decrease of 16.8%. On the other hand, the value of Egyptian imports from GCC countries increased to $11.7bn in 2021, compared to $7.9bn in 2020 — an increase of $3.8bn or 47.9%. Additionally, CAPMAS indicated that the value of remittances from Egyptians working in GCC countries increased to $20.9bn during FY2020/21, compared to the previous FY’s $18.8bn — an increase of 11.1%. Also, yhe value of GCC investments in Egypt recorded $3.9bn, compared to $3.8bn — an increase of 1.9%.

Source: Daily News Egypt July 17, 2022 13:46 UTC