Cairo –  The trade exchange value between Egypt and Cyprus amounted to $79 million during the first nine months (9M) of 2023, marking an annual hike of 21.80% from $64.80 million.

The African country exported goods valued at $70.50 million to Cyprus in 9M-23, up 20.30% from $58.60 million in 9M-22, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

Egypt’s imports from the Republic enlarged by 36% year-on-year (YoY) to $8.40 million in 9M-23 from $6.20 million.

During fiscal year (FY) 2022/2023, Cyprus pumped investments of $35.20 million in Egypt, lower by 47.90% than $67.50 million in FY21/22.

Remittances of Egyptians working in the island country dropped by 1.40% YoY to $14 million in FY21/22 from $14.20 million.

Meanwhile, the remittances of Cypriot citizens working in Egypt fell by 3.50% YoY to $1.90 million from $2 million.

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