Trade exchange between Egypt, BRICS countries increases to $31.2bn in 2022

The Central Agency for Public Mobilization and Statistics (CAPMAS) has announced that the trade exchange between Egypt and the BRICS countries increased to $31.2bn in 2022, compared to $28.3bn in 2021, a growth of 10.5%.

The BRICS countries are Brazil, Russia, India, China, and South Africa.

The agency said that the value of Egyptian exports to the BRICS countries increased to $4.9bn in 2022, compared to $4.6bn in 2021, an increase of 5.3%, while the value of Egyptian imports from BRICS countries amounted to $26.4bn compared to $23.6bn, an increase of 11.5%.

According to the agency, India came at the top of the list of the highest BRICS countries importing from Egypt during the year 2022. The value of Egypt’s exports amounted to $1.9bn, while China came second with $1.8bn, then Russia with $595.1m, then Brazil with $402.1m, and finally South Africa with $118.1m.

This comes as China topped the list of the highest exporting BRICS countries to Egypt during the year 2022; where the value of Egypt’s imports amounted to $14.4bn, while Russia came second with $4.1bn, then India with $4.1bn, then Brazil with $3.6bn, and finally South Africa with $133m.

It explained that the investments of the BRICS countries in Egypt amounted to $891.2m during the fiscal year 2021/2022, compared to $610.9m during the fiscal year 2020/2021, an increase of 45.9%.

China ranked first in the list of the highest investment countries of the BRICS group in Egypt during the fiscal year 2021/2022; as the value of its investments amounted to $369.4m, India came second with $266.1m, then South Africa with $220.3m, then Russia with $34.5m, and finally Brazil with $829,000.

In the same context, the agency revealed that the value of remittances of Egyptians working in the BRICS countries reached $84.7m during the fiscal year 2021/2022, compared to $41.8m during the fiscal year 2020/2021, an increase of 102.5%, while the remittances of workers from the BRICS countries reached in Egypt, it amounted to $49.7m, compared to $54.5m, a decrease of 8.7%.

Brazil came at the top of the list of the highest BRICS countries in remittances from Egyptians working in it during the fiscal year 2021/2022; with a value of $42.4m, Russia came second with $16.4m, then China with $13.2m, then South Africa with $6.7m, and finally India with $6m.