Egypt-Kuwait trade down 11.8% YoY in 2023

The value of Egyptian exports to Kuwait fell to $315 million last year from $428 million in 2022

Staff Writer, Arab Finance

May 2, 2024

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Trade exchange between Egypt and Kuwait fell by 11.8% year on year (YoY) in 2023 to $3 billion, compared to $3.4 billion, according to data by the Central Agency for Public Mobilization and Statistics (CAPMAS).

The value of Egyptian exports to Kuwait fell to $315 million last year from $428 million in 2022.

Likewise, the value of Egypt’s imports from Kuwait dropped to $2.7 billion from $3 billion.

In fiscal year (FY) 2022/2023, remittances of Egyptians living in Kuwait went down to $2 billion from $4.5 million in the previous FY.

However, remittances of Kuwaitis working in Egypt decreased to $4 million last FY from $8 million in FY 2021/2022.

Moreover, Kuwaiti investments in Egypt recorded $632.6 million last FY, down from $669.3 million a FY earlier.

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