Egypt-Greece trade exchange falls to $1.6bn in 2024

The trade exchange between Egypt and Greece reached $1.6bn in 2024, down from $2bn in 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

The announcement, released Wednesday to coincide with President Abdel Fattah Al-Sisi’s visit to Greece, revealed that Egyptian exports to Greece declined to $1.1bn, compared to $1.4bn in 2023. Imports from Greece also decreased, totaling $564m, down from $657m the previous year.

Fuel, mineral oils, and distillation products remained Egypt’s top export to Greece in 2024, valued at $645m. Other major exports included fertilizers ($104m), vegetables and fruits ($85m), plastics and plastic products ($50m), and iron and steel ($33m).

On the import side, Egypt’s main purchases from Greece included fuel and mineral oils ($276m), cotton ($132m), fruits and nuts ($54m), and tobacco ($15m).

In terms of financial flows, CAPMAS reported that remittances from Egyptians working in Greece rose slightly to $15m in fiscal year (FY) 2023/2024, up from $14.3m the previous year. Remittances from Greeks working in Egypt increased to $3.4m, compared to $2.7m.

Greek investments in Egypt more than doubled, reaching $13.9m in FY 2023/2024, up from $6.7m. Egyptian investments in Greece also saw an uptick, rising to $1m from $700,000.