Egypt-Oman trade exchange rises 7.2% YoY in 2021
- Date: 28-Jun-2022
- Source: Zawya
- Sector:Financial Markets
- Country:Egypt
Egypt-Oman trade exchange rises 7.2% YoY in 2021
Trade exchange between Egypt and the Sultanate of Oman increased by 7.2% in 2021 to $586.2 million, compared to $546.9 million in 2020, according to a press release by the Central Agency for Public Mobilization and Statistics (CAPMAS) on June 27th.
The value of Egyptian exports to the sultanate fell by 4.1% year-on-year (YoY) to $163.3 million last year from $170.2 million.
Moreover, the value of Egypt’s imports from Oman stood at $422.9 million in 2021, rising by 12.3% YoY from $376.7 million.
Omani investments in Egypt surged by 334.8% in fiscal year (FY) 2020/2021 to $68.8 million, versus $15.8 million in FY 2019/2020.
In FY 2020/2021, remittances of Egyptians living in Oman increased by 1% YoY to $162 million, versus $160.4 million.
Meanwhile, remittances of Omani people working in Egypt dropped by 15% YoY to $2.6 million in FY 2020/2021 from $3 million.
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