The Egyptian Trade Balance Deficit Declined by 25.3 percent

  • Cairo, Arab Republic of Egypt
  • 31 January 2020

The Egyptian Central Agency for Public Mobilization and Statistics revealed that the trade balance deficit decreased by 25.3% year on year to $2.97 billion in November of last year (2019), compared to $3.97 billion in the same month of 2018.

According to the Statistics Authority, exports decreased by 0.8% to 2.37 billion dollars in November, compared to 2.39 billion dollars for the same month in 2018, as a result of the decrease in exports of some commodities, the most important of which is crude oil by 28.9%, ready-made clothes by 3.8%, fertilizers by 32.8%, and carpets and kilims by 10.4 percent.

On the other hand, the value of imports decreased by 16.1% to $5.34 billion, compared to $6.36 billion during the same month in 2018, and the agency attributed this to the decrease in the value of imports of some commodities, the most important of which are petroleum products, which came in at 20.8%, and raw materials of iron or steel by 45.2%, passengers’ cars 27.9%, and pharmaceuticals 12.7%.

Source (Al-Sharq Al-Awsat Newspaper, Edited)

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