Wednesday February 21st, 2024
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Trade Between Saudi Arabia & Egypt Hit USD 20.4 Billion in 2022

This marks a 40% increase compared to trade between Saudi Arabia and Egypt in 2021.

Scene Arabia

The Kingdom of Saudi Arabia’s Ministry of Commerce has reported that trade between Saudi Arabia and Egypt has reached SAR 76.5 billion (or USD 20.4 billion) in 2022, a 40% increase compared to 2021.

With rapidly growing investments between the two states, the Kingdom of Saudi Arabia is set to sign a USD 1.5 billion agreement with Egypt during the Saudi-Egyptian Business Forum, which is currently running until November 23rd. An earlier announcement by Saudi Arabia’s Ministry of Commerce has also revealed that private Saudi investments in Egypt have reached USD 35 billion.

Organised by the Saudi National Competitiveness Centre in collaboration with the Federation of Saudi Chambers and the Federation of Egyptian Chambers, the forum sees over 270 Saudi and Egyptian businessmen working to unearth business opportunities across the two nations.

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