Cairo – Mubasher: The value of French investments in Egypt rose by 17.9% year-on-year (YoY) to $349 million during fiscal year (FY) 2019/2020, compared to $296.1 million in FY18/19, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
Bilateral trade between the two countries fell by 6.9% YoY to $2.2 billion in 2020, compared to $2.4 billion in 2019, the CAMPAS said in a statement on Monday.
Egypt’s exports to France declined by 18.9% YoY to $530.5 million in 2020 from $654.3 million, while French exports to Egypt decreased by 2.4% YoY to $1.70 billion from $1.75 billion in 2019.
Machines and electric appliances topped Egypt’s exports to France with a value of $138.2 million last year, followed by fertilisers with $134.5 million, organic chemical products with $55.4 million, and clothes with $40.6 million.
Moreover, the pharmaceutical products came in the first position among Egypt’s imports from France with $290.5 million, followed by grains with $207.5 million, and vehicles with $166 million.