Egyptian exports to G20 countries rise 39% in first-half of 2021

Egyptian exports to G20 countries rise 39% in first-half of 2021

Egyptian exports to G20 countries rise 39% in first-half of 2021
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CAIRO: Egypt’s exports to G20 countries rose 39.2 per cent in the first-half of 2021 to $9 billion, compared with $6.5 billion in the same period of the last year, Arab News reported.

According to the data issued by the Egypt’s Central Agency for Public Mobilisation 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 rose 14 per cent to $27 billion in the six-month period ended June 30, 2021.

The value of Chinese imports was the greatest standing at $6.5 billion; 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.

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Workers in Saudi Arabia transferred, by far, the highest value of remittances in 2019/20, as they amounted to $9.6 billion. The remittances from the US and the UK came next at $975.2 million and $489.2 million, respectively.

In addition, the G20 countries’ investments in Egypt fell in 2019/20 by 43.1 per cent to $6.7 billion. The UK was on the top of the list with investments worth $2.9 billion.

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