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Arab News
21-05-2025
- Business
- Arab News
Egypt's exports to Lebanon up 43.8% across 2024: CAPMAS
RIYADH: The value of Egyptian exports to Lebanon saw a 43.8 percent year-on-year surge in 2024 to reach $762.8 million, according to new figures. Data from Egypt's Central Agency for Public Mobilization and Statistics also showed that imports from the Middle Eastern country declined by 2.3 percent, totaling $237.7 million during the same period. These shifts in trade come amid broader economic trends. The region's gross domestic product grew by 1.8 percent in 2024, reaching $3.6 trillion despite ongoing challenges, according to a March report by the Arab Investment and Export Credit Guarantee Corporation, or Dhaman. Looking ahead, this economic momentum appears set to continue. Moody's projects 2.9 percent growth for the region in 2025, up from 2.1 percent in 2024, while maintaining a stable outlook for the region's sovereign credit fundamentals over the next 12 months. The newly released CAPMAS report revealed there was 'an increase in the value of trade exchange between Egypt and Lebanon, reaching $1 billion in 2024, compared to $774 million in 2023, an increase of 29.3 percent.' The main export groups of goods to Lebanon during 2024 included fuels, mineral oils, and distillation products worth $215 million, iron and iron products worth $65 million, and cement worth $55 million. The value of fruits and vegetable exports stood at $48 million, while sugar and sugar products were worth $41 million. As for the main import groups of goods from Lebanon during the same year, they entailed iron and iron products worth $118 million, fruits and vegetables worth $72 million, and electrical appliances and equipment worth $22 million. The value of plastics imports stood at $4 million, while dyeing and coating extracts were also worth $4 million. The CAPMAS data also shed light on how the value of Lebanese investments in Egypt amounted to $51.2 million during the fiscal year 2023/2024, compared to $51.4 million during the fiscal year 2022/2023. Egyptian investments in Lebanon amounted to $9.7 million during the fiscal year 2023/2024, compared to $7.9 million during the fiscal year 2022/2023. 'The value of remittances from Egyptians working in Lebanon amounted to $42.9 million during the fiscal year 2023/2024, compared to $38.1 million during the fiscal year 2022/2023, while the value of remittances from Lebanese working in Egypt amounted to $3.5 million during the fiscal year 2022/2023, compared to $3.7 million during the fiscal year 2022/2023,' the CAPMAS report added. According to estimates, the number of Egyptians residing in Lebanon reached 11,300 by the end of 2023, the report concluded.
Time of India
21-04-2025
- General
- Time of India
Climate-resilient urban forest offers hope amid ‘gaps' in heat action plan
Bathinda: Amid the backdrop of the Indian Meteorological Department (IMD) forecasting an increase in the number of heatwave days between April and June, a recent report has raised alarm about the shortcomings of India's heat action plans. "Is India ready for a warming world? How heat resilience measures are being implemented for 11% of India's urban population in some of its most at-risk cities," released by think tank Sustainable Futures Collaborative, involving experts from Harvard University, King's College London, and other global institutions, has highlighted a critical oversight: the lack of green infrastructure — urban forests, green corridors, and public green spaces—capable of providing natural cooling and climate resilience. However, an unexpected solution has emerged in one of the driest corners of the country — Bikaner, Rajasthan. Shyam Sunder Jyani, associate professor, Government Dungar College in Bikaner, has not only created a forest but has also cultivated a model of climate resilience. Jyani began transforming 16 acres of barren institutional land into a thriving green space in 2013. Without any financial support from the college or govt, he invested his personal salary into the project, which has since blossomed into a flourishing urban forest with more than 3,000 trees across 90 species. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like At What Age Can You Retire With £250,000? Fisher Investments UK Learn More Undo One notable feature of the forest is its section dedicated to native desert grasses, including Sewan (Lasiurus sindicus), Dhaman (Cenchrus ciliaris), and Boor (Cymbopogon martini). These plants are essential for restoring the local ecology, supporting biodiversity, and stabilising the environment in an area prone to extreme temperatures and limited rainfall. The forest is now home to foxes, desert hares, lizards, reptiles, and a variety of birds. A standout initiative within this green space is the public nursery named after Dev Jasnath, a medieval eco-spiritual leader. The nursery, which distributes thousands of saplings free of charge every year, has become a hub for community engagement. In 2023 alone, over 21,000 saplings were distributed to local students, villages, and the Indian Army. Many of these saplings were sent to remote areas like Barmer in western Rajasthan, contributing to wider ecological restoration efforts. The impact of Jyani's work has not gone unnoticed. The Nature Positive Universities Network—a global initiative led by the University of Oxford and the UN Environment Programme—has recognised the institutional forest as a model of climate resilience. Last year, Jyani was celebrated as a Staff Champion under this initiative, underscoring the global significance of his work in shaping sustainable solutions for the future. MSID:: 120486215 413 |
Shafaq News
17-03-2025
- Business
- Shafaq News
Iraq, four Arab nations dominate 70% of regional GDP in 2024
Shafaq News/ Iraq, along with four other Arab nations, accounted for more than 70% of the Arab world's GDP, which exceeded $3.6 trillion in 2024, marking a 1.8% increase from the previous year. According to the fourth quarterly report of 2024 by the Arab Investment and Export Credit Guarantee Corporation (Dhaman), the bulk of the region's economic output was concentrated in Iraq, the UAE, Saudi Arabia, Egypt, and Algeria. Projections for 2025 estimate 4.1% economic growth across the Arab region, driven by expansion in 14 countries, including nine oil-producing nations that contribute 78% of total GDP. Despite disparities in per capita income across Arab nations, an analysis of total GDP relative to population suggests that the theoretical average income per capita reached $7,557 in 2024, with a projected 1% rise to $7,602 in 2025. The Arab population surpassed 467 million in 2024, reflecting 2% growth, while unemployment climbed to 9.7%. Inflation rose to 12%, though forecasts suggest a decline to 8.5% in 2025. Government debt saw a slight decline to 48.3% of GDP, with further reduction expected to 47.6% next year. Arab foreign trade in goods and services expanded by 3.6%, exceeding $3.3 trillion in 2024. Exports grew 1%, while imports rose at a higher rate of 7%.
Jordan Times
17-03-2025
- Business
- Jordan Times
Arab GDP grows by 1.8% in 2024, forecast to reach 4.1% in 2025 — Dhaman
AMMAN — The Kuwait-based Arab Investment and Export Credit Guarantee Corporation (Dhaman) reported that the pan-Arab GDP grew by 1.8 per cent in 2024, surpassing $3.5 trillion despite regional challenges. Dhaman highlighted that economic activity remained concentrated in Saudi Arabia, the United Arab Emirates, Egypt, Iraq, and Algeria, which together accounted for more than 72 per cent of the region's total GDP, the Jordan News Agency, Petra, reported. The corporation projected a positive outlook for the Arab economy in 2025, forecasting a 4.1 per cent growth rate. This expansion is expected to be driven by 14 Arab economies, including nine oil-producing countries that collectively contribute over 78 per cent of Arab GDP. The forecast is based on "cautious" optimism regarding a potential easing of regional instability and improved revenues from oil, gas, goods, and services. Citing International Monetary Fund estimates, Dhaman noted that Arab economic indicators diverged in 2024 due to a 4 per cent decline in crude oil production and a 1 per cent drop in global oil prices. Additional factors included the expansion of the war on Gaza into Lebanon, Yemen, Syria, and Iraq, the ongoing armed conflict in Sudan, climate change, and rising external debt. According to data published in the fourth quarterly bulletin of 2024 (Investment Guarantee), per capita GDP in the Arab region increased by 1.2 per cent to $7,557, with a projected rise to $7,602 in 2025. Based on purchasing power parity, per capita GDP grew by 2 per cent to some $19,000, though significant disparities remain among Arab countries. The Arab population grew by 2 per cent in 2024, exceeding 467 million people, while the region's unemployment rate climbed to 9.7 per cent. Meanwhile, consumer price inflation reached 12 per cent last year, with expectations of a decline to 8.5 per cent in 2025. Fiscal deficits deepened, with the Arab budget surplus of $15 billion in 2023 turning into a $58 billion deficit in 2024. The deficit is projected to widen further to $68 billion this year, equating to about 2 per cent of GDP. Arab debt indicators shifted in 2024, as the government debt-to-GDP ratio declined to 48.3 per cent, with expectations of a further decrease to 47.6 per cent by the end of 2025. The external debt ratio increased to nearly 56 per cent of GDP, with a forecast decline to 54.5 per cent this year. Arab foreign trade in goods and services expanded by 3.6 per cent in 2024, exceeding $3.3 trillion, Dhaman said. Exports rose by 1 per cent, while imports grew by more than 7 per cent, leading to a 33 per cent reduction in the region's trade surplus, which stood at $177 billion. The Arab current account surplus shrank by 51 per cent to $89 billion in 2024, representing 2.5 per cent of GDP. This figure is expected to drop further to $47 billion in 2025, reducing its share of GDP to 1.3 per cent. Arab foreign exchange reserves increased by 3.7 per cent to almost $1.2 trillion, providing coverage for more than eight months of imports, the corporation added, noting that this coverage is expected to slightly decline in 2025 despite a projected 1.2 per cent increase in total reserves. Established in 1974 and headquartered in Kuwait, Dhaman is a multilateral institution comprising all Arab countries and four joint Arab financial institutions. It provides insurance services against credit and political risks to facilitate foreign direct investment in Arab economies and support regional trade.
Shafaq News
17-03-2025
- Business
- Shafaq News
Iraq: Top 5 Arab economy in 2024
Shafaq News/ Five Arab countries, including Iraq, accounted for 72% of the region's GDP, which surpassed $3.6 trillion in 2024, according to a new report from the Arab Investment & Export Credit Guarantee Corporation ("Dhaman") released on Sunday. The UAE, Saudi Arabia, Egypt, Iraq, and Algeria emerged as the leading contributors to the Arab economy, the report showed. The forecast for 2025 suggests a 4.1% growth in the Arab economy, driven by strong performances in 14 countries, including nine oil producers, which together make up around 78% of the total GDP. Despite economic challenges, the analysis highlights a boost in oil and gas export revenues, though crude oil production dropped by 4%, with uneven growth across the region. Iraq continues to play a central role in the Arab economy, with its reliance on oil exports alongside government efforts to diversify income sources and increase investments in other sectors. Per capita income in the Arab world reached $7,557 in 2024, with a modest increase expected to $7,602 in 2025. The population surpassed 467 million, growing by 2%. Inflation in the region climbed to 12% last year, but is expected to ease to 8.5% in 2025. Unemployment rose to 9.7%. Arab foreign trade saw a 3.6% increase, reaching $3.3 trillion, thanks to a 1% rise in exports and a 7% jump in imports. Foreign exchange reserves across Arab countries grew by 3.7%, reaching $1.2 trillion, enough to cover imports for more than eight months. The region's government debt decreased to 48.3% of GDP, with further reductions expected, dropping to 47.6% in the coming year.
