Egypt: 11% increase in value of exports to Germany during 1st half of 2024

On Wednesday September 11, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported an increase in Egyptian exports to Germany. In the first half of 2024, Egyptian exports to Germany totaled $463 million, up 11% from $417 million during the same period in 2023.
Egyptian imports from Germany also rose, reaching $2 billion in the first half of 2024, a 5.3% increase from $1.9 billion in the first half of 2023. Overall trade between the two countries grew by 4.2%, totaling $2.5 billion compared to $2.4 billion the previous year.
German investments in Egypt were $196.4 million during the first half of the 2023/2024 fiscal year, down slightly from $199.6 million in the same period of the 2022/2023 fiscal year. Conversely, Egyptian investments in Germany decreased to $97.9 million from $131.4 million year-over-year.
Remittances from Egyptians working in Germany totaled $129.8 million for the 2022/2023 fiscal year, a decline from $203.3 million in 2021/2022. In contrast, remittances from Germans working in Egypt increased to $15.2 million from $9.7 million during the same periods.
As of September 2024, Egypt’s population was 106.8 million, while Germany’s population was 83.2 million. By the end of 2023, an estimated 128,000 Egyptians were residing in Germany.