10/8/2024
Today from Hiiraan Online:  _
advertisements
Egypt, Somalia trade exchange record $59M during H1 of 2024


Thursday August 15, 2024


FILE  - A cargo ship is being loaded with containers at an Egyptian port

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. 
 

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.



 





Click here