Egypt’s export value to Germany surged by 31.30% to $848.20 million in 2021 from $646.10 million in 2020, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The value of the Arab republic’s imports from the European country, meanwhile, inched up by 1% to $4 billion last year, compared to $3.90 billion in 2020.
In addition, the trade exchange value between the two nations amounted to $4.80 billion in 2021, an annual increase of 5.20% from $4.60 billion.
During fiscal year (FY) 2020/2021, Germany invested $300.20 million in Egypt, a growth of 12.10% from $267.90 million in FY19/20.
Furthermore, the remittances of Egyptians working in Germany reached $130.70 million in FY20/21, an 11.10% year-on-year (YoY) jump from $117.60 million. Meanwhile, the remittances of German expats in Egypt plunged by 20.30% YoY to $9.90 million from $12.40 million.
