GR US

Bilateral Trade between Greece-Egypt up 300%

Ευρωκίνηση

President of Egypt Abdel Fattah el-Sisi received earlier on Thursday visiting Greek Foreign Minister Nikos Dendias. (Photo by Eurokinissi)

ATHENS -- Bilateral trade between Greece and Egypt quadrupled during the period 2009-2019, showing an increase of up to 300 pct, which is mainly due to the increase in Greek exports (+380.2 pct) as well as to the positive course of Egyptian exports (+236.7 pct), according to a recent study presented by the Office of Economic and Commercial Affairs of the Greek Embassy in Cairo.

The report even pointed out that 2018 was a record year for the bilateral trade volume of the two countries.

At the same time, Egypt ranks 12th among the main recipients of Greek export products, absorbing 2.8 pct of total Greek exports, while it ranks 19th among suppliers in Greece, with a share of 1.5 pct of total Greek imports.

Based on the value of the main categories of exported products, there was an increase in Greek exports of cotton, apples, pears, quinces, cigarettes and cigars, insecticides and herbicides, household items, plastics, apricots, cherries, peaches, plums, strawberries, raspberries, blackberries, blackcurrants, etc.

The value of Greek exports to Egypt in 2019 amounted to 1.027 billion dollars (compared to 1.005 billion dollars in 2018) appearing slightly increased by 2.1 pct compared to 2018.

Finally, Greek investments are found mainly in the sectors of paper, cement, oil, construction, food, paint, building materials, irrigation systems, aluminium, banking, maritime and air transport, education services and information technology.