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Egypt-Russia trade exchange hits $4.7B in 2021: Gamea

Egypt-Russia trade exchange hits $4.7B in 2021: Gamea

Arab Finance: Trade exchange between Egypt and Russia has amounted to $4.7 billion in 2021, increasing by 5.1% year-on-year (YoY) from $4.5 billion, Minister of Trade and Industry Nevine Gamea stated on the sidelines of the St. Petersburg International Economic Forum.

Egyptian exports to the Russian market have jumped by 14.7% to $591.7 million in 2021, compared to $515.6 million in 2020, Gamea noted.

Meanwhile, the Russian exports to Egypt have increased by 3.9% YoY to $4.178 billion last year from $4.019 billion, she added.

Moreover, the minister stressed that further Russian investments are welcome in Egypt, inviting companies and businessmen in both countries to enter partnerships and carry out joint projects.

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