Arab Finance: Trade exchange between Egypt and the European Union (EU) was valued at around €32.6 billion in 2023, Minister of Trade and Industry Ahmed Samir said on the sidelines of the Egypt-EU Investment Conference.

Egypt’s trade with the EU accounted for 27% of its total foreign trade last year, Samir explained.

The value of Egyptian exports to EU member countries stood at €11.5 billion, including €8.6 billion worth of non-oil exports, Samir noted.

Meanwhile, the country’s imports from the EU came in at €21.1 billion, he added.

Italy was the top importer of Egyptian exports among EU countries, representing 22.83% of total Egyptian exports to the EU, followed by Spain and Greece with 12.9% and 12.3%, respectively.

Samir highlighted that the EU’s investments in Egypt contribute to the country’s total foreign direct investments (FDI) by about 32%.

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