Cairo – Mubasher: The value of bilateral trade between Egypt and Saudi Arabia rose by 13.50% to $10.30 billion in 2022 from $9.10 billion, Ahram Gate cited the Central Agency for Public Mobilization and Statistics (CAPMAS).

The Arab Republic exported goods amounting to $2.50 billion to the Kingdom last year, higher by 11.20% than $2.20 billion as of 31 December 2021.

Meanwhile, Egypt’s imports from Saudi Arabia increased by 14.30% year-on-year (YoY) to $7.80 billion in 2022 from $6.90 billion.

During fiscal year (FY) 2020/2021, the remittances of Egyptians working in Saudi Arabia reached $11.20 billion, up 17% YoY from $9.60 billion.

The remittances of Saudi citizens working in Egypt went up by 4.90% to $18.50 million in FY20/21 from $17.60 million in FY19/20.

Saudi investments in the most populous country in North Africa stood at $491.60 million during FY21/22, a hike of 51.10% from $325.30 million in FY20/21.

In the January-November 2022 period, the trade exchange value between the two countries hiked by 19.10% YoY to $9.50 billion from $7.90 billion.