Thursday 15, August 2024 {HMC} CAIRO – 14 August 2024: In the first half of 2024, trade between Egypt and Somalia surged by 88 percent, totaling $59 million, a significant leap from the $31 million recorded during the same period in 2023.
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Egyptian exports to Somalia notably rose to $57 million, marking an 83 percent increase compared to the previous year.
This growth can be attributed to the heightened trade in various goods, including Starch and grain products valued at $29 million, sugar products at $10 million, and pharmaceutical products at $3 million.
Conversely, Egyptian imports from Somalia amounted to $2 million in the first half of 2024, up from $300,000 in 2023.
Key imports from Somalia in 2023 included live animals valued at $1.8 million, gum and plant extracts at $280,000, and oilseeds and fruits at $16,000.
Moreover, Somali investments in Egypt stood at $8,000 in the fiscal year 2022/2023, a decrease from $154,000 in 2021/2022.
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