Egypt:BUSINESS Egypt-France trade exchange scores $1.6bn in 9M 2020 Egypt-France trade exchange scores $1.6bn in 9M 2020
- 08 December 2020 / News / 176 / Emerging Africa
The volume of trade exchange between Egypt and France amounted to $1.6bn in the first nine months (9M) of 2020, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The results, issued on Monday in a press statement to mark Egyptian President Abdel Fattah Al-Sisi’s visit to the French capital Paris, reflect a significant decline compared to the $2.4bn recorded during 2019.
According to the agency, the total value of Egyptian exports of all goods and products during the period, between January and September 2020, amounted to about $412m, versus $654m during 2019. At the same time, French exports to Egypt during the same period amounted to about $1.231bn, compared to $1.746bn in 2019.
It indicated that the total foreign investment (receipts) from France amounted to about $448.8m, while the total Egyptian departing investments (payments) to the country amounted to $1.3126bn. This includes the payment of loan instalments so that the balance of foreign investments in favour of the French side, which amounted to about $863.8m during fiscal year (FY) 2018/19.
Remittances from Egyptians working in France amounted to $112.8m, while remittances from French expatriate workers back to France amounted to $11.6m. The current transfers balance in favour of the Egyptian side stood at about $101.2m during FY 2018/19.
There were, according to official estimates, a total of 416,250 Egyptians in France at the end of 2019.
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