Egypt, Hungary trade volume reaches $230M in first 8M of 2023

CAIRO – 28 November 2023: The volume of trade exchange between Egypt and Hungary increased by 16.6 percent increase reaching $229.8 million during the first 8 months of 2023 compared to $197.1 million during the same period in 2022, according to data published by Central Agency for Public Mobilization and Statistics (CAPMAS).

Egypt’s exports to Hungary reached $62.4 million during the first 8 months of 2023, compared to $51.8 million during the same period in 2022, with a 20.4 percent increase, CAPMAS reported.

The value of Egyptian imports from Hungary hit $167.4 million during the first 8 months of 2023, compared to $145.2 million during the end of the year, with a 15.3 percent increase.

The report also showed that remittances from Egyptians working in Hungary increased by 42.1 percent increase to record $4.3 million during the fiscal year 2021/2022 compared to $3 million during the fiscal year 2020/2021.

The most important commodity groups that Egypt exported to Hungary during the first 8 months of 2023 were machinery and electrical appliances for $20.9 million, vegetables and fruits for $16.1 million, chemical products for $10.4 million, and plastics and their products for $7.3 million.

The most important commodity groups that Egypt imported from Hungary during the first 8 months of 2023 were locomotives and wagons for $71 million, machinery and electrical appliances for $12.6 million, cars and tractors for $7.9 million, pharmaceutical products for $7.4 million, and chemical products for $7.1 million.