Trade between the two countries has witnessed steady growth in recent years, with trade exchange recording about $1.2 billion in 2023, an increase of about 15% compared to $1 billion in 2022.
He also recorded the volume of Egyptian exports to Algeria to record $605 million during the first eight months of 2024, compared to $556 million during the same period in 2023, pointing out that the volume of Egyptian imports from Algeria amounted to $17 million during the first eight months of 2024, compared to $8. Millions of dollars during the same period in 2023.
Regarding the most important commodity groups that Egypt exported to Algeria during the first eight months of 2024, the agency confirmed that essential oils and cosmetics came in first place with a value of $84 million, in addition to other commodities such as iron, steel, machinery, electrical appliances, and copper. On the other hand, Egypt imports organic and inorganic chemical products from Algeria, in addition to glass, rubber, and iron and steel products.
The agency noted that the value of remittances from Egyptians working in Algeria amounted to $3.9 million during the fiscal year 2022/2023, while the value of remittances from Algerians working in Egypt amounted to $939,000 during the fiscal year 2022/2023, noting that the population of Egypt recorded 106.9 million people in October 2024. While the population of Algeria recorded 47 million people for the same period.
On the other hand, although they are still at a low level, mutual investments are on the rise, recording about $13.7 million during the last fiscal year, while Egyptian investments in Algeria amounted to about $4.5 million during the same period. The value of remittances from Egyptians working in Algeria amounted to 3.9 million dollars during the past year, while the value of remittances from Algerians working in Egypt in the same period amounted to about 939 thousand dollars.
Source: RT
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**Interview with Dr. Layla Hassan, Economic Analyst, on Egypt-Algeria Trade Relations**
**Editor:** Welcome, Dr. Hassan. Thank you for joining us today.
**Dr. Hassan:** Thank you for having me.
**Editor:** Trade between Egypt and Algeria has seen impressive growth recently, reaching approximately $1.2 billion in 2023. What do you think are the key factors contributing to this increase?
**Dr. Hassan:** There are several factors at play. First, both countries have been proactive in enhancing bilateral relations through various trade agreements and partnerships. Additionally, sectors such as construction, agriculture, and textiles have seen significant cooperation, driving up the trade volumes.
**Editor:** That’s insightful. I noticed that Egyptian exports to Algeria amounted to $605 million this year. Can you elaborate on what products are driving this export growth?
**Dr. Hassan:** Certainly! The primary exports from Egypt to Algeria include construction materials, pharmaceuticals, and food products. Egypt has positioned itself well in these sectors, and the demand from Algeria is robust, especially for construction materials, as Algeria invests heavily in infrastructure development.
**Editor:** With trade growing 15% compared to last year, do you foresee any potential challenges on the horizon?
**Dr. Hassan:** Yes, while the growth is promising, challenges such as regulatory barriers, logistical issues, and fluctuating commodity prices may arise. Both countries need to continue improving their trade infrastructure and address any bureaucratic hurdles to sustain this momentum.
**Editor:** Great points, Dr. Hassan. In your opinion, what strategies should both countries consider to further bolster their trade relationship?
**Dr. Hassan:** Fostering stronger partnerships through mutual investment and joint ventures could be one strategy. Furthermore, enhancing communication channels and participating in trade fairs could help businesses from both sides explore new opportunities.
**Editor:** Thank you so much for your insights, Dr. Hassan. It seems that the future holds significant potential for Egypt and Algeria’s trade relations.
**Dr. Hassan:** Absolutely. Thank you for having me!
**Editor:** Welcome, Dr. Hassan. Thank you for joining us today.
**Dr. Hassan:** Thank you for having me.
**Editor:** Trade between Egypt and Algeria has seen impressive growth recently, reaching approximately $1.2 billion in 2023. What do you think are the key factors contributing to this increase?
**Dr. Hassan:** There are several factors at play. First, both countries have been proactive in enhancing bilateral relations through various trade agreements and partnerships. Additionally, sectors such as construction, agriculture, and textiles have seen significant cooperation, driving up the trade volumes.
**Editor:** That’s insightful. I noticed that Egyptian exports to Algeria amounted to $605 million during the first eight months of 2024. Can you elaborate on what products are driving this export growth?
**Dr. Hassan:** Certainly! The primary exports from Egypt to Algeria include essential oils and cosmetics, which topped the list with a value of $84 million. Other notable commodities include iron and steel, machinery, electrical appliances, and copper. This diverse range of exports reflects Egypt’s industrial capabilities and market adaptability.
**Editor:** Interesting. On the other hand, Egypt’s imports from Algeria amounted to $17 million. What are some of the key products Egypt is importing?
**Dr. Hassan:** Egypt imports mainly organic and inorganic chemical products from Algeria, along with glass, rubber, and iron and steel products. These imports contribute to various sectors in Egypt’s economy, supporting manufacturing and construction industries.
**Editor:** It appears that remittances are also playing a role in the economic relationship between the two nations. What can you tell us about that?
**Dr. Hassan:** Yes, remittances are quite significant. Egyptians working in Algeria sent home about $3.9 million during the fiscal year 2022/2023, while Algerians in Egypt sent approximately $939,000. This exchange not only supports families but also strengthens economic ties between the two nations.
**Editor:** And how do you see the future of mutual investments between Egypt and Algeria, given that the figures are still relatively low?
**Dr. Hassan:** While current mutual investments stand at about $13.7 million, there is certainly potential for growth. Increased collaboration in sectors like energy, tourism, and technology could attract more investors. Both governments are keen on exploring these areas in future trade discussions.
**Editor:** Thank you, Dr. Hassan. Your insights into the evolving trade dynamics between Egypt and Algeria are invaluable.
**Dr. Hassan:** Thank you for having me. It was a pleasure to discuss this important topic.