The value of trade exchange between Egypt and India grew 13.7% to $6 billion in 2022, versus $5.3 billion in 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed on June 24th. Egyptian exports to India amounted to $1.9 billion last year, marking a 6.5% yearly decrease from $2 billion in the prior year. Meanwhile, the North African country’s imports from India came in at $4.1 billion, up 26.4% from $3.2 billion in 2021. Indian investments in Egypt stood at $266.1 million in fiscal year (FY) 2021/2022, versus $3.3 million a year earlier. Remittances of Egyptians working in India inched up 3.6% in FY 2021/2022, reaching $6 million, compared to $5.8 million in the previous FY.

Source: The North Africa Journal June 26, 2023 14:38 UTC