Egypt’s trade with Saudi Arabia experienced significant growth in 2024, with exports rising by 25.9% to reach $3.4 billion, compared to $2.7 billion in 2023, according to the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
Saudi Arabia remains key trade partner for Egypt © Mena Today
Egypt’s trade with Saudi Arabia experienced significant growth in 2024, with exports rising by 25.9% to reach $3.4 billion, compared to $2.7 billion in 2023, according to the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
Imports from Saudi Arabia saw an even steeper increase, surging 43.6% to $7.9 billion in 2024, up from $5.5 billion the previous year. This substantial growth resulted in an overall trade volume expansion of 37.8%, bringing the total trade exchange between the two nations to $11.3 billion, compared to $8.2 billion in 2023.
Egypt’s leading export to Saudi Arabia in 2024 was pure copper wires, valued at $645 million. Other major exports included: Vegetables and fruits: $397 million, iron and steel: $222 million, ready-made garments: $202 million, furniture and prefabricated structures: $91 million
On the import side, Egypt’s biggest purchases from Saudi Arabia were fuels, mineral oils, and distillation products, amounting to $5.6 billion.
Despite the surge in trade, Saudi investments in Egypt saw a sharp decline, dropping to $775.5 million in the 2023/2024 fiscal year, compared to $2.4 billion in 2022/2023.
Similarly, Egyptian investments in Saudi Arabia also fell, totaling $190 million in 2023/2024, down from $272.1 million the previous fiscal year.
Reporting by Philippe Tanios
Saudi Arabia ordered an Iranian diplomat and three members of his team to leave the country Saturday, as the Kingdom continues to absorb Iranian missile strikes launched in retaliation for the US-Israeli military campaign against Tehran.
Egypt has strongly condemned on Saturday the terrorist and sabotage plots targeting the security and stability of Gulf states, most recently the United Arab Emirates and Kuwait, following the successful dismantling of Hezbollah-linked networks in both countries.
Qatar's Energy Minister Saad Sherida Al-Kaabi announced Friday that Iranian attacks on the country's energy infrastructure would reduce liquefied natural gas (LNG) export capacity by 17%, resulting in estimated annual revenue losses of $20 billion.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.