Cairo: Trade between Egypt and Cyprus witnessed a significant expansion, reaching $327 million in 2024, a sharp increase from $115 million in 2023, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

According to State Information Service Egypt, Egyptian exports to Cyprus experienced substantial growth, rising to $193 million in 2024, compared to $103 million in 2023. Meanwhile, Egyptian imports from Cyprus saw an even more dramatic increase, soaring to $134 million in 2024, up from just $12 million the previous year.

Among Egypt’s key exports to Cyprus, iron and steel topped the list with $98 million, followed by fertilizers at $45 million, paper at $9 million, and plastics at $7 million.

On the import side, mineral fuels and oils dominated Egypt’s purchases from Cyprus, totaling $124 million. Additionally, Egypt imported machinery and electrical appliances worth $5 million and pharmaceutical products valued at $1 million.

Investment between the two countries also saw a remarkable boost. Cypriot investments in Egypt surged to $114.6 million in FY 2023/2024, a significant increase from $35.2 million in the previous fiscal year. Similarly, Egyptian investments in Cyprus more than doubled, reaching $40 million in FY 2023/2024, up from $17.3 million in FY 2022/2023.

The sharp rise in trade and investment flows highlights the strengthening economic ties between Egypt and Cyprus, paving the way for deeper cooperation in the years ahead.