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Egypt-South Korea trade exchange grows 23.6% in 10 months

Egypt-South Korea trade exchange grows 23.6% in 10 months

ArabFinance: Trade exchange between Egypt and South Korea grew by 23.6% year-on-year (YoY) during the first 10 months of 2021, Al Borsa Newspaper reported, citing a report released by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Bilateral trade recorded $1.9 billion in the January-October period of 2021, versus $1.6 billion in the same period of 2020.

South Korean exports to Egypt rose by 44.8% to $1.4 billion in the 10-month period ended October 2021, from $938.4 million in the same period of 2020, data by CAPMAS showed.

Meanwhile, Egyptian exports to South Korea dropped by 9.5% to $560.2 million in the first 10 months of 2021, versus $613.5 million in the same period of 2020.

The report also mentioned that the South Korean investments in Egypt reached $19.7 million in fiscal year (FY) 2019/2020, rising by 62.9% from $12.1 million in FY 2018/2019.

 

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