Emirati investments in Egypt increased to $1.9 billion in the first half of this year, up from $712.6 million in the same period last year, a 169.1 percent increase, according to data released by Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS).
According to the findings, the trade exchange between Egypt and the UAE increased by $1.2 billion during the first quarter of 2022, compared to $1.1 billion during the same period in 2021, representing a 1.4 percent increase. However, Egyptian imports from the UAE decreased to $642.9 million in Q1 2022, compared to $793.3 million during the same period in 2021, representing a 19 percent decrease. Meanwhile, Egyptian exports to the UAE increased by 69.5 percent to $576.7 million in Q1 2022, from $340.2 million in the same period in 2021.
Remittances from Egyptians working in the UAE totaled $3.5 billion in the 2020/2021 fiscal year, up from $3.4 billion in the 2019/2020 fiscal year, a 1.4 percent increase. On the other hand, remittances from Emiratis working in Egypt totaled $39.1 million in the fiscal year 2020/2021, compared to $41 million in the fiscal year 2019/2020, a 4.6 percent decrease.