Egypt-Turkey trade exchange jumps 14% in 2022

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Cairo – The value of bilateral trade between Egypt and Turkey rose by 14% year-on-year (YoY) to $7.70 billion in 2022 from $6.70 billion.

The Arab Republic’s exports to Turkey hit $4 billion in the January-December 2022 period, an annual surge of 32.30% from $3 billion, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

Meanwhile, Egypt imported goods worth $3.72 billion from Turkey in 2022, down 0.70% YoY from $3.74 billion.

During fiscal year (FY) 2021/2022, Turkish investments in the African country amounted to $179.90 million, higher by 30.30% than $138.10 million in FY19/20.

Remittances of Egyptians working in Turkey reached $21.50 million in FY20/21, a 32.30% hike from $16.30 million in the previous FY.

On the other hand, the remittances of Turkish citizens working in Egypt plummeted by 31.10% YoY to $9.10 million in FY20/21 from $13.20 million.