Prime Highlights
- Saudi investments in Egypt increased in 2024, reaching $25.74 billion across nearly 9,000 companies.
- Trade between the two countries strengthened, with Egypt reducing its trade deficit to just $29 million.
Key Facts
- Egyptian exports to Saudi Arabia rose to $3.33 billion in 2024, up 22.2% from the previous year.
- Total non-oil trade between the two countries grew to $5.73 billion in 2024.
Background
Saudi investments in Egypt rose in 2024 to $25.74 billion across 8,895 companies, according to Amr Hazzaa. The companies operate in a wide range of sectors, including industry, construction, tourism, services, finance, agriculture, and telecommunications.
Speaking in an interview with Al-Eqtisadiah, Hazzaa confirmed that the industrial sector remained the leading destination for Saudi capital, accounting for 34.14 percent of total investments, with issued capital of $7.77 billion spread across 1,404 companies. The construction sector came next, contributing 22.17 percent with capital of $4.92 billion.
Tourism came in third, receiving 14.08 percent of Saudi investments, while services accounted for 9.73 percent, finance 9.04 percent, and agriculture 9.02 percent. Telecommunications and IT represented 1.82 percent, showing continued diversification of Saudi business activity in Egypt.
Hazzaa said Saudi investors are increasingly interested in Egypt’s growing industrial sector, new urban development projects, and healthcare initiatives, with total Saudi contributions in major sectors reaching $6.81 billion.
Trade between the two countries also continued to advance. Non-oil trade between Saudi Arabia and Egypt rose to $5.73 billion in 2024. Egyptian exports grew to $3.33 billion, while imports from Saudi Arabia fell to $2.40 billion. As a result, Egypt’s trade deficit dropped to $29 million, its lowest in five years.
Hazzaa said these results demonstrate the strength and momentum of economic ties between both nations, adding that the coming period will see further investment expansion and enhanced trade cooperation in support of Saudi Vision 2030 and Egypt’s ongoing economic development programs.
