Egypt-Germany trade exchange up 4.2% YoY in H1 2024
Updated 9/12/2024 9:13:00 AM
Arab Finance: Trade exchange between Egypt and Germany went up by 4.2% year on year (YoY) in the first half (H1) of 2024 to $2.5 billion, compared to $2.4 billion, according to data by the Central Agency for Public Mobilization and Statistics (CAPMAS).
The value of Egyptian exports to Germany grew by 11% YoY over the January-June period this year to $463 million from $417 million.
Meanwhile, the value of Egypt’s imports from Germany recorded $2 billion in the six-month period, up by 5.3% from $1.9 billion in the year-ago period.
In fiscal year (FY) 2022/2023, remittances of Egyptians living in Germany reached $129.8 million, down from $203.3 million the year before.
On the other hand, remittances of Germans working in Egypt rose to $15.2 million in FY 2022/2023 from $9.7 million a year earlier.
German investments in Egypt stood at $196.4 million in H1 FY 2023/2024, down from $199.6 million in H1 FY 2022/2023.
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