Cairo – Mubasher: Trade exchange between Egypt and the US surged by 13.40% year-on-year (YoY) during the first nine months (9M) of 2022 to $7.30 billion, compared to $6.50 billion, Akhbar El-Yom cited the Central Agency for Public Mobilization and Statistics (CAPMAS).
Egyptian exports to the US dipped by 1.70% YoY to $1.80 billion during the January-September period in 2022, compared to $1.90 billion. In contrast, Egyptian imports from the US jumped by 19.50% in 9M-22 to $5.50 billion, compared to $4.60 billion in 9M-21.
The most important commodity groups Egypt exported to the US during 9M-22 were garments worth $1.10 billion, plastics and their manufactures worth $136.50 million, carpets and floor coverings worth $117.40 million, vegetables worth $83 million, and glass worth $68.70 million.
As regards the most important commodity groups that Egypt imported from the US during January-September 2022, they were seeds and medicinal plants worth $1.90 billion, fuel, mineral oils, and their distillation products worth $1 billion, pharmaceutical products of $326.20 million, boilers, machinery, and automatic devices of $293.10 million, and iron and steel worth $267 million.
During fiscal year (FY) 2020/2021, the US investments in Egypt grew by 19.80% YoY to $9.20 billion, compared to $7.70 billion.
In the meantime, Egyptian remittances from the US amounted to $1.40 billion in FY20/21, a yearly hike of 40.90%, whereas the remittances of Americans working in Egypt declined by 14.10% YoY to $42.80 million.
In 2021, the number of Egyptians residing in the US reached 1.50 million.
