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Japan’s investments in Egypt leap 99% in one year

Japan’s investments in Egypt leap 99% in one year
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Cairo – Mubasher: Japan pumped investments valued at $73.70 million in Egypt during fiscal year (FY) 2021/2022, an annual hike of 98.70% from $37.10 million.

The value of bilateral trade between the Arab Republic and the Asian nation retreated by 26.30% year-on-year (YoY) to $1.10 billion in 2022 from $1.60 billion.

Japan received Egyptian goods worth $260.80 million last year, lower by 53% than $554.40 million in 2021, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

Meanwhile, the African state’s imports from the island country stood at $888.50 million as of 31 December 2022, down 11.60% YoY from $1 billion.

Earlier this month, Ahmed Samir, Egypt’s Minister of Trade and Industry, announced that the value of the trade exchange between Egypt and Africa reached $2.11 billion during the first quarter (Q1) of 2023. 

Samir highlighted that the Arab Republic exported goods to Africa amounting to $1.61 billion in Q1-23, while the Egyptian imports hit $506 million.