Egyptian exports to four major European countries surge in 2022: Minister

Minister Samir reviewed figures for Egyptian exports to these four major European markets in 2022 during a meeting with the heads of regional trade offices, according to a cabinet statement released on Tuesday.

Germany

Egypt's exports to Germany surged by 30.8 in 2022 to reach €1.1 billion.

Trade exchange between the two countries grew by 7.8 percent in 2022 to reach €5.5 billion in 2022, up from €5.1 billion in 2021, Samir said.

Spain

Egyptian exports to Spain tripled in 2022 to reach €2.9 billion in 2022, up from  €1.1 billion in 2021.

Trade exchange between the two countries doubled in 2022 to register  €4.5 billion, up from €2.7 billion in 2021, the trade and industry minister added.

France

Egyptian exports to France jumped by 136 percent in 2022 to reach €2.16 billion, up from €917 million in 2021, thus lowering the trade deficit with France to €121.9 million at the end of 2022, from €940.8 million in 2021.

UK

Egyptian exports to the UK surged 83 percent in 2022 to reach £1.6 billion in 2022, up from £912 million in 2021, resulting in a trade surplus with the Kingdom of £57 million.

Samir explained that investors from the UK remain the largest investors from any one country in Egypt, with total value investments of $21.8 billion according to most recent figures.