UAE investments in Egypt rise by more than 169% in 6 months

The value of remittances from Egyptians working in the UAE saw a 1.4 percent increase to $3.5 billion during the 2020-2021 fiscal year compared with $3.4 billion during the same period in 2019-2020. (File/Shutterstock)

• The value of trade exchange between the UAE and Egypt reached $1.2 billion during the first quarter of this year

DUBAI: UAE investments in Egypt increased by 169.1 percent during the first half of the 2021-2022 fiscal year, latest economic data show.
The value rose to $1.9 billion from $712.6 million during the same six-month period of the 2020-2021 fiscal year, according to data published by the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS).
Meanwhile, the value of trade exchange between the UAE and Egypt reached $1.2 billion during the first quarter of this year, compared with $1.1 billion during the same period in 2021, said CAPMAS in its statement.
This demonstrates a 1.4 percent increase in trade exchange between the two countries. 
Meanwhile, the value of remittances from Egyptians working in the UAE saw a 1.4 percent increase to $3.5 billion during the 2020-2021 fiscal year compared with $3.4 billion during the same period in 2019-2020, Egyptian statistics agency noted.