Egypt-Cyprus trade up 21.8% YoY in 9 months

The Cypriot investments into Egypt recorded $35.2 million in FY 2022/2023, down by 47.9% from $67.5 million in FY 2021/2022

Staff Writer, Arab Finance

December 7, 2023

PHOTO

The volume of trade exchange between Egypt and Cyprus rose 21.8% year on year (YoY) in the first nine months of 2023 to $79 million, compared to $64.8 million, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced.

The Egyptian exports to Cyprus reached $70.5 million from January through September, up 20.3% YoY from $58.6 million.

Meanwhile, the North African country’s imports from Cyprus saw a 36% yearly increase to $8.4 million from $6.2 million in the first nine months of 2022.

Remittances of Egyptians working in Cyprus slipped 1.4% YoY in fiscal year (FY) 2021/2022 to $14 million, while remittances of Cypriots living in Egypt fell by 3.5% YoY to $1.9 million.

The Cypriot investments into Egypt recorded $35.2 million in FY 2022/2023, down by 47.9% from $67.5 million in FY 2021/2022.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.