Egypt-Belgium trade exchange hits $2bln in 11 months
Trade exchange between Egypt and Belgium recorded $2 billion in the first 11 months of 2021, according to a recent press release by the Central Agency for Public Mobilization and Statistics (CAPMAS).
Egyptian exports to Belgium during the January-November period of 2021 were valued at $411.6 million, jumping by 75.5% year-on-year (YoY) from $234.5 million.
Meanwhile, Belgian exports to Egypt grew by 71.1% YoY in the 11-month period ended November 30th 2021 to $1.6 billion from $937.1 million.
In fiscal year (FY) 2020/2021, Belgian investments in Egypt amounted to $246.8 million, surging by 187.3% from $85.9 million in FY 2019/2020.
On the other hand, remittances from Egyptian expats in Belgium stood at $26.3 million in FY 2019/2020, up by 7.3% from $24.5 million in FY 2018/2019.
Remittances of Belgians living in Egypt fell by 13.6% YoY to $1.5 million in FY 2019/2020 from $1.7 million.