Egypt’s exports to the Saudi market grew by 13% to $2.6 billion in 2020, compared to $2.3 billion a year earlier.
Although the overall Saudi imports declined by 9% annually during 2020 due to the repercussions of the pandemic, Egypt’s exports to the kingdom, especially agricultural and food products, have increased significantly due to their high competitiveness, the Minister of Trade and Industry, Nevine Gamea, said in a statement on Wednesday.
Bilateral non-oil trade between the two countries rose to $4.4 billion last year from $4.1 billion a year earlier.
The Saudi market was the second largest market destination for Egypt’s exports in 2020, Ahmed Maghawry, Head of the Egyptian Commercial Service (ECS), said.
The kingdom also landed the second position among the largest investors in the Egyptian market, Maghawry added.
