Japanese investments in Egypt jump by 98.7% in FY2021/22

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Sun, 30 Apr 2023 - 12:33 GMT

BY

Sun, 30 Apr 2023 - 12:33 GMT

CAIRO – 30 April 2023: The Central Agency for Public Mobilization and Statistics (CAPMAS) indicated in a statement Sunday that the value of Japanese investments in Egypt had spiked by 98.7 percent in FY2021/22 to hit $73.7 million compared to $37.1 million in FY2020/21.

 

On the other hand, the trade exchange between the two countries dropped by 26.3 percent to record $1.1 billion in 2022 down from $1.6 billion in the previous year. Egyptian exports to Japan fell by 53 percent to become $260.8 million instead of $554.4 million. Also, the country's imports of Japanese products plunged by 11.6 percent to be $888.5 million instead of $1 billion.

 

The Ministry of International Cooperation indicated in April 2022 that the portfolio of cooperation between the two countries amounted to about $2.8 billion, dedicated to 14 projects, including health, electricity, transport, navigation, education, higher education and irrigation.

 

It added that the cooperation between Egypt and Japan dates back to 1954, and that the development cooperation portfolio is diversified, extending to many sectors.

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