Egypt-Hungary trade exchange reaches $229.8m in 8M 2023: CAPMAS

Hossam Mounir
2 Min Read

The Central Agency for Public Mobilization and Statistics (CAPMAS) announced that the trade exchange between Egypt and Hungary increased by 16.6% in the first 8 months of 2023, reaching $229.8m, compared to $197.1m in the same period of 2022.

The agency issued a statement on Monday on the occasion of President Abdel Fattah Al-Sisi’s visit to Hungary, highlighting the trade relations between the two countries and its role in following up on the president’s official activities and visits.

The statement indicated that Egyptian exports to Hungary rose by 20.4% in the first 8 months of 2023, reaching $62.4m, compared to $51.8m in the same period of 2022. Meanwhile, Egyptian imports from Hungary grew by 15.3%, reaching $167.4m, compared to $145.2m.

The agency added that the main export items from Egypt to Hungary were machinery and electrical appliances ($20.9m), vegetables and fruits ($16.1m), chemical products ($10.4m), and plastics and their products ($7.3m). The main import items from Hungary to Egypt were locomotives and wagons ($71m), machinery and electrical appliances ($12.6m), cars and tractors ($7.9m), pharmaceutical products ($7.4m), and chemical products ($7.1m).

The agency also reported that the remittances from Egyptians working in Hungary amounted to $4.3m in the fiscal year 2021/2022, an increase of 42.1% from $3m in the fiscal year 2020/2021. On the other hand, the remittances from Hungarians working in Egypt reached $925,000, an increase of 68.8% from $548,000. It also noted that the population of Egypt in 2023 was estimated at 105.7 million people, while the population of Hungary was estimated at 10.2 million people in 2023.

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