Egypt’s trade relations with Algeria have seen significant growth in recent months. According to data from the Central Agency for Public Mobilization and Statistics (CAPMAS), Egyptian exports to Algeria surged to a record $605 million in the first eight months of 2024, a substantial increase from the previous year.
Key Export Commodities:
- Cosmetics and Aromatic Oils: $84 million
- Plastics and Their Products: $75 million
- Iron and Its Products: $67 million
- Mechanical, Electrical, and Machinery Equipment: $34 million
- Copper and Its Products: $33 million
Import Trends:
While Egypt’s exports to Algeria have seen impressive growth, imports from Algeria remain relatively modest. Key import commodities include:
- Inorganic and Organic Chemical Goods: $12 million
- Steel and Iron: $1.3 million
- Glass and Its Products: $1 million
- Rubber and Its Products: $1 million
Investment and Remittances
Egypt and Algeria have also witnessed increased investment flows between the two countries. In the fiscal year 2022/2023, Egyptian investments in Algeria totaled $4.5 million, while Algerian investments in Egypt amounted to $13.7 million.
Furthermore, remittances from Algerian workers in Egypt reached $939,000, while remittances from Egyptian workers in Algeria totaled $3.9 million.
The strengthening of trade and investment ties between Egypt and Algeria reflects the growing economic cooperation between the two North African nations.
