The Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed a significant rise in Egypt’s export value to Russia, hitting $595.1 million in 2022, up 21.6% from $489.6 million in 2021.
The Egyptian imports from Russia also increased to $4.1 billion in 2022, an annual hike of 15.5% from $3.6 billion. The total trade value between Egypt and Russia rose to $4.7 billion in 2022, a growth of 16.2% from $4.1 billion in 2021.
It was noted that the top ten product groups exported from Egypt to Russia in 2022 included fruits worth $302.3 million, vegetables and plants worth $207.2 million, and soap worth $11.8 million.
In terms of investments, Russian investment in Egypt climbed to $34.5 million in the fiscal year 2021-2022, representing a whopping increase of 145.2% from $14.1 million in the fiscal year 2020-2021.
Remittances from Egyptians working in Russia amounted to $16.4 million in the fiscal year 2021/2022, up 32.3% from $12.4 million in the previous fiscal year.
Meanwhile, remittances from Russians working in Egypt decreased by 19.6% to reach $23.7 million in the fiscal year 2021/2022.
