Economic relations between Egypt and Germany are based on successful investments in the sectors of energy, transport, automobile manufacturing, and digitalization.
According to recent figures released by the Trade and Industry Ministry, the volume of trade exchange between Egypt and Germany reached €5.1 billion in 2021.
In a statement on Sunday, Chairman of the General Federation of Egyptian Chambers of Commerce (FEDCOC) Ibrahim El Araby said the number of German companies working in Egypt reaches 1,180 with a total investment of $7.1 billion in the sectors of energy, railway, industry, and tourism.
Egypt is the second market for German exports in Africa, while Germany is the seventh market for Egyptian exports to the European Union.
Araby noted that the decline of German imports from Russia and Ukraine is a strong opportunity for boosting Egypt’s exports to the German markets.
The most important Egyptian exports to Germany are fruits, vegetables, and textiles, while Egyptian imports include machines, cars, electrical appliances, and chemicals.
Source: State Information Service Egypt