CAIRO: Egypt’s exports to G20 countries rose 39.2 percent in the first half of 2021 to $9billion as compared to $6.5 billion in the same period last year.
According to the data issued by Egypt’s Central Agency for Public Mobilization and Statistics, Italy, the US and Saudi Arabia were the biggest export destinations. Egypt’s exports to all these three countries amounted to $1.1 billion each.
The country’s imports from G20 countries, on the other hand, rose by 14 percent to $27 billion in the six-month period ending June 30, 2021.
The value of Chinese imports was the greatest standing at $6.5 billion. This was followed by the US and Saudi Arabia at $3.2 billion and $3.1 billion respectively.
Meanwhile, remittances from G20 countries increased to $11.6 billion in the fiscal year 2019/20, the agency said. This is greater than the previous fiscal year’s remittances of $10.2 billion.
Workers in Saudi Arabia transferred, by far, the highest value of remittances in 2019/20 as they amounted to $9.6 billion. Remittances from the US and the UK came next, at $975.2 million and $489.2 respectively.
In addition, G20 countries’ investments in Egypt fell in 2019/20 by 43.1 percent to $6.7 billion. The UK was at the top of the list with investments worth $2.9 billion.