What's Hot

    Tech African Women startup accelerator launches in Ethiopia

    August 17, 2022

    Appetito and Purity sign MoU

    August 16, 2022

    Afriguild strikes investment deal with Adaverse  

    August 15, 2022
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Rotana enters Algerian market with new Oran resort

      August 11, 2022

      AD Ports Group and Hutchison Ports Sign MoU on Tanzanian projects

      August 3, 2022

      Mulk International to develop USD 500 million high-tech park in Zimbabwe

      July 22, 2022
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Abu Dhabi’s non-oil foreign trade climbs to USD 33 billion in H1 2022

      August 15, 2022

      AD Ports Group and Hutchison Ports Sign MoU on Tanzanian projects

      August 3, 2022

      Kenya and UAE begin talks on Comprehensive Economic Partnership Agreement

      July 29, 2022
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      MENA startups raise USD105 million in July, the lowest amount in 2022

      Business FDI Finance Innovation August 8, 2022
      Recent

      MENA startups raise USD105 million in July, the lowest amount in 2022

      August 8, 2022

      IsDB: Islamic Development Bank Group announces USD 10.54 billion package to address food security

      August 1, 2022

      The United Bank for Africa Group expands to EMEA

      July 25, 2022
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business & Trade

    GCC trade exchange with Egypt estimated at USD 16.1 billion in 2021

    July 18, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    GCC Trade
    GGC trade with Egypt is increasing, however exports from Egypt are down.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    GCC trade with Egypt continues to increase, with Egypt exporting USD 4.5 billion to the GCC.

    GCC trade with Egypt reached USD 16.1 billion in 2021, according to Egypt’s Central Agency for Public Mobilisation and Statistics (CAPMAS). The USD 16.1 billion figure represents an increase of USD 2.9 billion (21.7%) compared to 2020’s USD 13.3 billion.

    GCC trade: Imports up, exports down

    The government agency reported that Egypt had exported USD 4.5 billion of goods to the GCC over the year, falling from USD 5.4 billion in 2020, a decrease of 16.8%.

    Egyptian imports from GCC countries increased to USD 11.7 billion last year, up from USD 7.9 billion in 2020, an increase of USD 3.8 billion, or 47.9%.

    Saudi Arabia topped the list of GCC countries importing from Egypt over 2021, with imports totaling USD 2.2 billion, followed by the UAE at USD 1.3 billion, Bahrain at USD 450.7 million, Kuwait at USD 320.7 million, Oman at USD 163.3 million and Qatar at USD 4.5 million.

    Remittances up

    CAPMAS stated that the value of remittances sent back to Egypt by Egyptians working in the GCC increased to USD 20.9 billion over the fiscal year 2020/21, compared to the previous year’s figure of USD 18.8 billion, an increase of 11.1%. Remittances from Egyptians working in Saudi Arabia topped the list, with USD 11.2 billion being sent home, followed by the UAE at USD 3.4 billion, Qatar at USD 1.5 billion, Oman at USD 162 million and Bahrain at USD 104.1 million.

    GCC investments increasing

    In 2021, investments from the GCC in Egypt had also increased over the previous year, with CAPMAS recording investments valued at USD 3.9 billion, compared to USD 3.8 billion in 2020, an increase of 1.9%.

    The UAE was the leading source of investments from the GCC with USD 2.8 billion over the course of 2021, followed by Saudi Arabia at USD 622 million, Kuwait at USD 217.8 million, Bahrain at USD 160.4 million, Oman at USD 68.8 million and Qatar at USD 59.8 million.

    In recent weeks, Egypt has announced a dramatic increase in the country’s trade with Bahrain and sent a delegation to discuss means by which to improve trade relations further.  

    Egypt has also sent representatives of the Egyptian General Authority for Investment and Free Zones to Qatar to meet with the Qatari Businessmen Association to explore how to bolster trade between the two states.

    Bahrain gcc investment Kuwait Oman qatar saudi arabia trade UAE
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleEFG Hermes concludes advisory on Agthia’s majority acquisition of Auf Group
    Next Article Stllr Network closes six-figure investment round

    Related Posts

    Business FDI Innovation

    Appetito and Purity sign MoU

    August 16, 2022
    Business Business & Trade

    Abu Dhabi’s non-oil foreign trade climbs to USD 33 billion in H1 2022

    August 15, 2022
    Business Entrepreneurship Innovation

    Convertedin raises USD 3 million in Seed round

    August 12, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    LATEST STORIES

    Tech African Women startup accelerator launches in Ethiopia

    August 17, 2022

    Appetito and Purity sign MoU

    August 16, 2022

    Afriguild strikes investment deal with Adaverse  

    August 15, 2022

    Abu Dhabi’s non-oil foreign trade climbs to USD 33 billion in H1 2022

    August 15, 2022

    Convertedin raises USD 3 million in Seed round

    August 12, 2022
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.