The volume of trade exchange between Egypt and the G20 countries has increased by 19.4% to $36bn in the first half of 2021 (1H 2021), government data revealed on Saturday.
Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that Egyptian exports to the G20 countries increased by 39.2% to $9bn in 1H 2021, up from $6.5bn in the same period in 2020.
Meanwhile, Egyptian imports from the G20 countries amounted to $27bn compared to $23.7bn, an increase of 14%.
According to CAPMAS, Italy topped the list of top 10 G20 importers from Egypt in 1H 2021 with $1.1bn. It was followed by the US with $1.1bn worth of imports, Saudi Arabia with $1.1bn, India with $1bn, Turkey with $997.8m, and China with $727.4m.
The UK came in the seventh spot with $519.1m worth of imports, followed by Germany with $398.7m, France with $355.1m, and Russia with $341.3m.
China ranked first in the list of the top ten G20 countries that exported to Egypt during the first half of 2021. Egypt’s imports from China amounted to $6.5bn. The US came in second place with $3.2bn worth of exports to Egypt, followed by Saudi Arabia with $3.1bn, Germany with $2.1bn, and Turkey with $1.8bn.
In sixth place came Russia with $1.6bn worth of exports to Egypt, Italy with $1.5bn, India with $1.4bn, Brazil with $1bn, and France with $887m.
CAPMAS explained that the value of remittances from Egyptians working in the G20 countries amounted to $11.6bn during fiscal year (FY) 2019/20, compared to $10.2bn in FY 2018/19, an increase of 13.1%.
Remittances from Egyptians working in Saudi Arabia recorded $9.6bn in FY 2019/20, leading the rest of the top ten countries of the G20.
It was followed by remittances of Egyptians in the US which recorded $975.2m, the UK with $489.2m, and Germany with $117.6m. Remittances from Egyptians in France recorded $105.7m, followed by Italy with $94m, Canada with $87.6m, Australia with $44.1m, Turkey with $16.3m, and Russia with $13.4m.
The value of the G20 countries’ investments in Egypt amounted to $6.7bn in FY 2019/20, compared to $11.7bn in FY 2018/19, a decrease of 43.1%.
The UK was the top G20 investor in Egypt in FY 2019/20 with $2.9bn of investments. The US came in second with $1.5bn of investments, Italy with $596.3m, Saudi Arabia with $448.6m, France with $349m, and Germany with $215.2m.
China came in seventh with $181.8m of investments, followed by South Korea with $163.9m, Canada with $94m, and South Africa with $74.6m.
The G20 includes the US, Russia, China, France, Germany, Italy, Turkey, the European Union, Japan, India, South Korea, the United Kingdom, Saudi Arabia, Indonesia, Mexico, Canada, South Africa, Brazil, Argentina, and Australia.