The value of UAE investments in Egypt rose to $1.9 billion in the first half of the 2021/2022 fiscal year, compared with $712.6 million in the same period of 2020/2021, an increase of 169.1 percent, data released by the Central Public Mobilization and Statistics Agency showed on Sunday.
The value of trade exchanges between Egypt and the UAE increased by $1.2 billion in the first quarter of 2022, compared to $1.1 billion in the same period in 2021, an increase of 1.4 percent, CAPMAS said.
- The value of Egypt’s imports from the UAE fell to $642.9 million in the first quarter of 2022, compared to $793.3 million in the same period of 2021, a drop of 19 percent.
- Egypt’s exports to the UAE increased to $576.7 million in the first quarter of 2022, compared to $340.2 million in the same period of 2021, an increase of 69.5%.
- In the 2020/2021 fiscal year, Egyptians working in the UAE sent remittances worth $3.5 billion, compared to $3.4 billion in the 2019/2020 fiscal year, an increase of 1.4 percent.
- In the 2020/2021 financial year, remittances from Emiratis working in Egypt were valued at $39.1 million, compared to $41 million in the 2019/2020 financial year, a decrease of 4.6%.
The Egyptian delegation estimates that by the end of 2020, the number of Egyptians in the UAE will reach 950,000.