By Sama Marwan,
U.S. President Donald Trump has refused to sign a G7 statement urging de-escalation between Israel and Iran, according to CNN.
Trump stated that Iran wants to negotiate, but they should have done so before the escalation. He added that the Iranians want to reach a deal and must work toward signing a mutual agreement.
The U.S. President emphasized that Tehran will not win a war against Israel and must start negotiating before it’s too late.
Economic Relations Between Egypt and the G7 Nations
In a separate context, Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) issued a press release on Monday, highlighting key indicators of economic relations between Egypt and the G7 nations, coinciding with the G7 Summit hosted by Alberta, Canada.
The G7 nations include:
United States, Germany, France, United Kingdom, Italy, Canada, and Japan — the world’s most advanced economies.
Egypt’s Exports to the G7
- 2024: $9.5 billion
- 2023: $8.6 billion
- Increase: 10.5%
Top G7 Importers from Egypt in 2024:
- Italy – $3.4 billion
- United States – $2.2 billion
- United Kingdom – $1.6 billion
- France – $1.0 billion
- Germany – $989 million
- Canada – $197 million
- Japan – $67 million
Top Egyptian Export Categories to the G7 in 2024:
- Fuel and mineral oils – $1.9 billion
- Ready-made garments – $1.6 billion
- Electrical machinery and equipment – $862 million
- Fruits and vegetables – $834 million
- Fertilizers – $569 million
- Aluminum – $523 million
- Plastics and their products – $521 million
Egypt’s Imports from the G7
- 2024: $20.2 billion
- 2023: $17.4 billion
- Increase: 16.1%
Top G7 Exporters to Egypt in 2024:
- United States – $7.6 billion
- Germany – $4.4 billion
- Italy – $3.2 billion
- United Kingdom – $2.0 billion
- France – $1.8 billion
- Japan – $819 million
- Canada – $369 million
Top G7 Export Categories to Egypt in 2024:
- Fuel and mineral oils – $4.2 billion
- Electrical machinery and equipment – $3.5 billion
- Vehicles and tractors – $1.8 billion
- Pharmaceuticals – $1.5 billion
- Iron and steel products – $1.4 billion
- Oil seeds and medicinal plants – $1.1 billion
Egypt-G7 Trade Volume
- 2024: $29.7 billion
- 2023: $26 billion
- Growth: 14.2%
G7 Investments in Egypt
- 2023/2024 fiscal year: $9.2 billion
- 2022/2023 fiscal year: $8.1 billion
- Growth: 13.6%
Top G7 Investors in Egypt (2023/2024):
- United States – $3.0 billion
- United Kingdom – $2.9 billion
- Italy – $2.1 billion
- France – $483.8 million
- Germany – $421.6 million
- Canada – $122.5 million
- Japan – $73.2 million
Egyptian Investments in G7 Countries
- 2023/2024: $6.3 billion
- 2022/2023: $7.3 billion
Top Destinations for Egyptian Investments (2023/2024):
- Italy – $2.9 billion
- United States – $1.5 billion
- United Kingdom – $1.4 billion
- France – $238.3 million
- Germany – $195.3 million
- Canada – $85.3 million
- Japan – $13.5 million
Remittances from Egyptians in G7 Countries
- 2023/2024: $3.2 billion
- 2022/2023: $2.6 billion
- Increase: 23.1%
Top G7 Countries by Remittances to Egypt:
- United States – $2.1 billion
- United Kingdom – $646.3 million
- Germany – $144.8 million
- Canada – $108.4 million
- Italy – $100.2 million
- France – $71.1 million
- Japan – $5.6 million
Remittances from G7 Nationals Working in Egypt
- 2023/2024: $133.4 million
- 2022/2023: $128.6 million
- Increase: 3.7%
Top G7 Countries by Workers’ Remittances from Egypt:
- United Kingdom – $59.5 million
- United States – $36.4 million
- France – $14.1 million
- Canada – $9.5 million
- Germany – $8.1 million
- Italy – $4.6 million
- Japan – $1.3 million
Egyptians in G7 Countries
- Estimated population: 2.6 million Egyptians residing in G7 countries as of the end of 2023.
