The Central Agency for Public Mobilization and Statistics (CAPMAS) reported a rise in trade exchange between Egypt and G20 members to $61bn during the first nine months of 2024, from $55.6bn in the same period of 2023—a $5.4bn increase.
This announcement coincides with President Abdel Fattah Al-Sisi’s participation in the G20 Summit in Rio de Janeiro, Brazil.
Egypt’s exports to G20 countries amounted to $14.4bn 9M 2024, slightly down from $14.9bn in the same period of 2023. Italy topped the list of G20 countries importing from Egypt with $2.9bn, followed by Saudi Arabia with $2.4bn, Turkey with $2.3bn, the United States with $1.7bn, and the United Kingdom with $1.2bn. Other notable importers included France with $811m, Germany with $717m, Brazil with $585m, Russia with $466m, and India with $423m.
Key Egyptian exports included fossil fuels and oil at $2.4bn, vegetables and fruits at $1.7bn, ready-made garments at $1.5bn, electrical machinery and equipment at $962m, fertilizers at $961m, plastics and articles thereof at $887m, and iron and steel at $830m.
Egypt imported goods worth $46.6bn from G20 countries during the first nine months of 2024, up from $40.7bn in the same period of 2023. China led Egypt’s imports with $11.3bn, followed by the United States at $5.2bn, Saudi Arabia at $5.1bn, Russia at $4.5bn, Germany at $3.3bn, Brazil at $2.9bn, Italy at $2.6bn, Turkey at $2.4bn, India at $2.2bn, and the United Kingdom at $1.5bn.
Among the key Egyptian imports were electrical machinery and equipment valued at $8.2bn, fossil fuels and oils at $6.9bn, iron and steel and their articles at $4.1bn, grains at $3.4bn, vehicles and their parts at $2.7bn, plastics and articles thereof at $2.5bn, and chemical products at $1.7bn.
CAPMAS also highlighted remittances from Egyptian workers in G20 countries, which totaled $11.1bn during the 2022/23 fiscal year, compared to $14.3bn in 2021/22. Saudi Arabia accounted for the highest share of remittances at $8.3bn, followed by the United States at $1.6bn, the United Kingdom at $560m, Germany at $129.8m, Canada at $118m, Italy at $104.4m, France at $79m, Australia at $54.6m, Turkey at $30.1m, and China at $19.5m.
Conversely, remittances from G20 nationals working in Egypt reached $215.6m during the 2022/23 fiscal year, down from $237.9m in 2021/2022. The United Kingdom topped the list with $54.9m, followed by the United States at $30.7m, Saudi Arabia at $26.1m, India at $23m, Germany at $15.2m, Canada at $11.3m, Turkey at $10.7m, France at $9.7m, Australia at $9.2m, and South Africa at $6.1m.
Additionally, CAPMAS revealed that G20 countries’ investments in Egypt reached $12bn during the 2022/23 fiscal year, up from $8.7bn in 2021/22. Egyptian investments in G20 countries also rose to $8.2bn, compared to $7.9bn in the prior fiscal year.
The agency estimated that 4.1 million Egyptians resided in G20 countries in 2023.
