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.



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