Cairo – Mubasher: Egyptian exports to Germany rose by 9.5% during the first half of 2018, recording EUR 717 million, versus EUR 654.6 million in the same period a year earlier, trade and industry minister said on Thursday.
On the other hand, the North African nation’s imports from Germany dropped by 44% year-on-year, registering EUR 1.47 billion, compared to EUR 2.62 billion, Amr Nassar added in a statement.
This came on the sidelines of talks held between Nassar and director general of the German Federal Ministry for Economic Cooperation and Development Claudia Warning to discuss mutual economic cooperation between the two countries, mainly in the fields of trade and industry and small- and medium-sized enterprises (SMEs).
Trade exchange between Egypt and Germany increased by 5% in 2017 to reach EUR 5.8 billion, compared to EUR 5.56 billion in 2016, Nasar previously said.
German investments in the Arab world's most populous country amount to $641 million now over 1,080 projects in the fields of industry, services, agriculture, construction, communication, information technology (IT), and financing.
Total Egyptian investments in Germany hit $35.5 million in the fields of financing, pharmaceuticals, furniture, medical devices, tourism, and trade, Nasar added.
