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Egypt-Brazil trade exchange hits $2.5bn in 2021

Egypt-Brazil trade exchange hits $2.5bn in 2021
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Cairo - Mubasher: The value of the trade exchange between Egypt and Brazil has totalled $2.50 billion in 2021, the Egyptian Minister of Trade and Industry, Nevine Gamea, stated.

Gamea noted that the African country’s exports to Brazil increased to $541 million last year from $155 million in 2017, adding that is the largest trading partner of Egypt in Latin America.

The minister also noted that the Egyptian market provides Brazilian enterprises with investment opportunities in the fields of transportation, spare parts, pharmaceuticals, engineering and textile industries, as well as renewable energy.

On a separate note, Egypt exported goods to Oman in 2021 at a total value of $163.30 million, an annual slide of 4.10% from $170.20 million.

According to the Central Agency for Public Mobilization and Statistics (CAPMAS), the value of the trade exchange between the two Arab nations amounted to $586.20 million last year, up 7.20% from $546.90 million in 2020.