Egypt-France trade exchange hits $3.9B in 2022
Updated 6/25/2023 1:24:00 PM
Arab Finance: Trade exchange between Egypt and France grew by 35% year on year (YoY) to $3.9 billion in 2022 from $2.9 billion, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced.
Egypt’s exports to France surged 61% YoY in 2022, recording $1.8 billion, compared to $1.1 billion.
Additionally, the country’s imports from France were valued at $2.2 billion last year, up by 19.2% from $1.8 billion in 2021.
In fiscal year (FY) 2021/2022, French investments in Egypt hiked 99.3% YoY to $550.6 million from $276.2 million.
Remittances of Egyptians residing in France amounted to $120 million in FY 2021/2022, down 4.8% from $126.1 in the previous FY.
Meanwhile, remittances of French living in Egypt saw an annual drop of 22.5% to $8.3 million from $10.7 million in FY 2020/2021.
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