Egypt-Algeria trade hits $622M in 8 months
Updated 10/29/2024 12:31:00 PM
Arab Finance: Trade exchange between Egypt and Algeria rose to $622 million in the first eight months of 2024 from $563 million in the same period of 2023, according to data by the Central Agency for Public Mobilization and Statistics (CAPMAS).
The value of Egyptian exports to Algeria grew to $605 million over the January-August period this year from $556 million during the corresponding period last year.
Meanwhile, the value of Egypt’s imports from Algeria recorded $17 million in the eight-month period, up from $8 million in the year-ago period.
In fiscal year (FY) 2022/2023, remittances of Egyptians living in Algeria reached $3.9 million, while remittances of Algerians working in Egypt hit $939,000.
Algerian investments in Egypt stood at $13.7 million in FY 2022/2023, while Egyptian investments in Algeria amounted to $4.5 million.
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