Egypt-Türkiye Trade Exchange Drops By 15.7% In 2023: CAPMAS
Date
2/15/2024 2:11:05 PM
(MENAFN- Daily News Egypt)
The Central Agency for Public Mobilization and Statistics (CAPMAS) reported that the trade exchange between Egypt and Türkiye was $6 in 2023, down from $7 in 2022, a decline of 15.7%.
The agency stated the economic relations between Egypt and Turkey, on the occasion of President Abdel Fattah Al-Sisi's meeting with Turkish President Recep Tayyip Erdogan today. The statement said that the Egyptian exports to Türkiye were $3 in 2023, down from $4bn in 2022, a decline of 4.8%, while the Egyptian imports from Turkey were $2, down from $3, a decline of 27%. The meeting was part of strengthening the bilateral relations and activating the high-level cooperation mechanisms.
The statement said that the main commodity groups that Egypt exported to Türkiye in 2023 were fuel, mineral oils, and their distillation products ($831), plastics and their products ($373), fertilizers ($357), iron and steel ($363), ready-made clothing ($243m), and machinery and electrical appliances ($188m).
The statement also said that the main commodity groups that Egypt imported from Türkiye in 2023 were iron and steel ($551), machinery and electrical appliances ($640m), fuel, mineral oils and their distillation products ($169), inorganic chemical products ($153), plastics and their products ($133), and paper and paper pulp products ($100).
The statement indicated that the value of Turkish investments in Egypt was $167 in fiscal year 2022/2023, down from $179 in fiscal year 2021/2022, a decline of 7.1%.
The statement added that the remittances from Egyptians working in Türkiye were $29 in the fiscal year 2021/2022, up from $21 in the fiscal year 2020/2021, an increase of 35.2%, while the remittances from Turks working in Egypt were $10, up from $9, an increase of 13.6%.
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