Egypt Today: Trade between Egypt and Cyprus witnessed a significant expansion, reaching $327 million in 2024, a sharp increase from $115 million in 2023, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
Egyptian exports to Cyprus experienced substantial growth, rising to $193 million in 2024, compared to $103 million in 2023. Meanwhile, Egyptian imports from Cyprus saw an even more dramatic increase, soaring to $134 million in 2024, up from just $12 million the previous year.
Among Egypt’s key exports to Cyprus, iron and steel topped the list with $98 million, followed by fertilizers ($45 million), paper ($9 million), and plastics ($7 million).
On the import side, mineral fuels and oils dominated Egypt’s purchases from Cyprus, totaling $124 million. Additionally, Egypt imported machinery and electrical appliances worth $5 million and pharmaceutical products valued at $1 million.
Investment between the two countries also saw a remarkable boost. Cypriot investments in Egypt surged to $114.6 million in FY 2023/2024, a significant increase from $35.2 million in the previous fiscal year. Similarly, Egyptian investments in Cyprus more than doubled, reaching $40 million in FY 2023/2024, up from $17.3 million in FY 2022/2023.
The sharp rise in trade and investment flows highlights the strengthening economic ties between Egypt and Cyprus, paving the way for deeper cooperation in the years ahead.
https://www.egypttoday.com/Article/3/138468/327M-Egypt-Cyprus-trade-volume-in-2024-CAPMAS
