Egyptian-Libyan trade jumps 42% YoY in 11 months

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Trade exchange between Egypt and Libya rose by 42% year on year (YoY) in the first 11 months of 2023 to $1.7 billion, compared to $1.2 billion, according to data by the Central Agency for Public Mobilization and Statistics (CAPMAS).

The value of Egyptian exports to Libya rose by 48% YoY over the January-November period of last year to $1.6 billion from $1.1 billion.

On the other hand, the value of Egypt’s imports from Libya saw a 28% drop in the 11-month period, recording $61.7 million from $85.5 million in the corresponding period of 2022.

In fiscal year (FY) 2021/2022, remittances of Egyptians living in Libya inched up by 2.6% YoY to $4.8 million from $4.6 million.

However, remittances of Libyans working in Egypt fell by 87.6% YoY to $3,000 in FY 2021/2022 from $14,000.

Moreover, Libyan investments in Egypt stood at $19.9 million in FY 2022/2023, climbing by 3.1% from $19.3 million.