Egypt-Saudi Arabia Trade Volume Grows by 18% in 2024
Trade between Egypt and Saudi Arabia grew by 18.18 percent in 2024, reaching USD 6.5 billion compared to USD 5.5 billion in 2023, according to an announcement by Commercial Minister Plenipotentiary and Head of the Egyptian Commercial Office in Saudi Arabia Osama Basha.
Egypt now ranks seventh among Saudi Arabia's largest trading partners. Saudi investments in Egypt have reached USD 37 billion across more than 6,830 companies, while Egyptian investments in Saudi Arabia total USD 5 billion through 805 companies.
The economic collaboration between Egypt and Saudi Arabia is expected to continue expanding in the coming years. In August 2024, General Authority for Investment and Free Zones (GAFI) CEO Hossam Heiba announced that Egypt will open a Saudi investment office at the authority's headquarters in Cairo to further boost trade and investment ties.
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