CAIRO - 24 September 2023: Trade exchange between Egypt and China hiked 2.2 percent in 2022, reaching $16.2 billion, compared to $15.9 billion in 2021, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The CAPMAS noted that Egypt’s exports to China saw a growth of 25.1 percent, reaching $1.8 billion in 2022 compared to $1.5 billion in 2021. Meanwhile, the value of Egyptian imports from China decreased to $14.40 billion, down from $14.42 billion in 2021, marking a 0.2 percent decrease.
Egypt's primary exports to China included fuel, mineral oils, and their distillation products, totaling $1.4 billion, followed by cotton at $117.3 million, fruits at $77.7 million, prepared animal feed at $65.8 million, and textile fibers at $33.7 million.
On the other hand, Egypt's most prominent imports from China in 2022 were electrical machinery and appliances valued at $2.9 billion, boilers, machinery, mechanical appliances, and tools at $2.1 billion, synthetic staple fibers at $1.1 billion, iron and steel products at $1 billion, and synthetic or artificial fibers at $502.1 million.
Chinese investments in Egypt reached $563.4 million during the fiscal year 2021-2022, compared to $485.2 million in the fiscal year 2020-2021, marking a 16.1 percent increase.
Remittances from Egyptians working in China amounted to $13.2 million during the fiscal year 2021-2022, up from $12.8 million in the fiscal year 2020-2021, representing a 3.1 percent increase. Meanwhile, the value of remittances from Chinese workers in Egypt reached $4.1 million during the fiscal year 2021-2022, down from $5.4 million in the fiscal year 2020-2021, marking a 25.2 percent decrease.