Egypt's exports to Cyprus surge by 68.8% in 2022

Meanwhile, Egypt's imports from Cyprus decreased to $9 million in 2022, down from $24 million in 2021, a decrease of 62.5 percent, while trade exchange between the two countries increased by 23.2 percent from $69 million in 2021 to $85 million in 2022. 

The CAPMAS statement was released in tandem with the first visit of Cypriot President Nikos Christodoulides to Egypt and his meeting with his Egyptian counterpart President Abdel-Fattah El-Sisi.

Prime among Egypt's exports to Cyprus in 2022 were iron and steel valued at $18.5 million, non-organic chemical products at $15 million, paper and its products at $10.2 million, animal feed at $7.6 million, and plastic and its products at $6.1 million.

Egypt's imports from Cyprus in 2022 included electrical machinery and appliances valued at $3 million, paper pulp at $2 million, cereals and oleaginous fruits at $900,000, plastic and its products at $800,000, and pharmaceutical products at $600,000.

Cyprus' investments in Egypt amounted to $67.5 million during the fiscal year 2021/2022, down by 28 percent from $93.8 million in 2020/2021.

Egyptians' remittances from Cyprus stood at $14.2 million in 2020/2021, down by 15 percent from $16.7 million in 2019/2020.

Cypriots' remittances from Egypt recorded $2 million in 2020/2021, up by 6.5 percent from $1.8 million in 2019/2020.

The Egyptian and Cypriot population reached 104.5 million and 1.3 million, respectively, in 2022. According to the Egyptian Consulate in Cyprus, about 20,000 Egyptians lived in Cyprus in 2022.