CAIRO - 19 September 2023: The value of remittances from Egyptians working in the United Arab Emirates recorded a slight increase in the recent period by 1.4 percent, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
The agency said that the total remittances were estimated at about $3.5 billion during the fiscal year 2021/2022, while they were about $3.4 billion during the fiscal year 2020/2021, an increase of about 1.4 percent.
CAPMAS data said that, on the other hand, the value of remittances from Emiratis working in Egypt amounted to $35.8 million during the fiscal year 2021/2022, compared to $39.1 million during the fiscal year 2020/2021, a decline of about 8.4%.
The value of UAE investments in Egypt achieved a big jump, according to data from the Central Agency for Public Mobilization and Statistics, as it was estimated at about 5.7 billion dollars during the fiscal year 2021/2022, while it was about 1.4 billion dollars during the year 2020/2021, an increase amounting to 4.3 billion dollars, and an increase rate of about 300.8 percent.
The value of trade exchange between Egypt and the Emirates increased to reach $4.9 billion in 2022, compared to $4.8 billion in 2021, with an increase of 2.5%, as the value of Egyptian exports to the Emirates reached $1.9 billion in 2022, compared to $1.8 billion in 2021, by an increase of 10.6 percent.