Cairo – Mubasher: The value of bilateral trade between Egypt and Germany amounted to $2.50 billion in the first half (H1) of 2024, reflecting a 4.20% year-on-year (YoY) growth from $2.40 billion.
The Arab Republic’s exports to Germany hit $463 million in H1-24, an annual surge of 11% from $417 million, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
In the January-June 2024 period, Egypt imported goods valued at $2 billion from the European country, higher by 5.30% than $1.90 billion in H1-23.
During the H1 of fiscal year (FY) 2023/2024, German investments in the African country reached $196.40 million, compared to $199.60 million in H1-22/23.
Egypt invested $97.90 million in Germany in H1-23/24, which marked an annual drop from $131.40 million.
Remittances of Egyptians working in the Federal Republic stood at $129.80 million in FY22/23, down from $203.30 million in the previous FY.
On the other hand, the remittances of German people working in Egypt climbed YoY to $15.20 million in FY22/23 from $9.70 million.
