United States investments in Egypt suffered a sharp decline of 85.9%, dropping from EGP 93.7m in 2014 to EGP 13.2m in 2015, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS).
CAPMAS published its annual bulletin on the “economic relations between Egypt and the United States of America” on Wednesday, which lays out the total trade volume of both countries, in addition to the current situation of US investment in Egypt and the status of US Tourism in Egypt.
According to the bulletin, the recorded value of Egypt’s imports from the US totalled EGP 33.5bn in 2015, compared to EGP 37.8bn in 2014, marking a decline of 11.3%. Additionally, Egypt’s exports to the US amounted to EGP 8.4bn in 2015, compared to EGP 9.1bn in 2014, witnessing a drop of 8%.
Although ranked first in terms of an Egyptian import from the US, grain imports dramatically declined by 56.7%, with a total value of EGP 2.5bn in 2015 compared to EGP 5.8bn in 2014.
Egypt’s imports from countries worldwide slightly increased by 8.7%, with a total value of EGP 568.9bn in 2015, as opposed to EGP 523.4bn in 2014.
The total gross value of Egypt’s exports to countries worldwide slumped to EGP 163.3bn in 2015 compared to EGP 195.3bn in 2014, marking a drop of 16.4%.
Although Egyptian textile and garment exports to the US ranked highest, the sector witnessed a slight drop of 6.4% in these exports. The value went down from EGP 5.4bn in 2014 to EGP 5.1bn in 2015.
CAPMAS also revealed that the total number of tourist visits from the US to Egypt grew by 22%, reaching 188,700 tourists in 2015, compared to 154,000 in 2014.
The number of nights spent by American tourists in Egypt went down by 6.9%. This means that they stood at 1.5m nights in 2015, compared to 1.7m in 2014.