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UAE-Egypt trade exchange at $2.1bn in 2014

Figure signals an increase of 17 per cent from 2013, following major surge of 35.9 per cent in 2014

Trade exchange between the United Arab Emirates and Egypt amounted to $2.14 billion in 2014, according to a recent report.

The figure signals an increase of 17 per cent when compared with the figure reported in 2013, which stood at $1.82bn, says the Egyptian trade office in Abu Dhabi.

In 2014, the office says in a report, Egyptian exports to the UAE surged by 35.9 per cent to $827 million from $608m in 2013, Youm7 reports.

Agricultural produce accounted for 34 per cent of Egyptian exports while precious stones and metals came second at 19 per cent, followed by aromatic oils (6.4 per cent), metal products (3.5 per cent), textiles (3.1 per cent), construction materials (2.3 per cent) and furniture (two per cent).

The report also reveals that Egypt’s imports from the UAE jumped by 17 per cent in the past year to $1.7bn, of which $439m were UAE re-exports. Top imports from the UAE included pearls, plastics, foodstuffs and agro produce.

The report also indicates that the UAE was the top foreign investor in Egypt with investments totalling $5.8bn in 2014.

($1 = AED3.67, at the time of publishing)