Exports- Creative Commons cia Pixabay
CAIRO – 13 February 2022: Egypt’s trade deficit declined 63.1 percent during November 2021, recording $1.19 billion, compared to $3.22 billion in the same month of 2020, according to the state's statistics agency (CAPMAS).
In its monthly bulletin on foreign trade data, CAPMAS elaborated that exports increased 80.6 percent, recording $4.48 billion in November 2021, compared to $2.48 billion during the same month of 2020.
The bulletin attributed the increase of exports to the rise in the exports of various commodities, such as: fertilizers by 83.3 percent, plastics in their primary forms by 51.9 percent, fresh fruits by 50.2 percent, and ready-made clothes by 31.5 percent.
Meanwhile, exports of some other commodities witnessed a decrease in November such as: flat-rolled products of iron or steel by 14.2 percent, bars, rods, angles and wires of iron by 11.4 percent, tiles and ceramic sanitary ware by 13.6 percent, and dairy products by 8.9 percent.
Moreover, the bulletin showed a decrease of 0.5 percent in imports to hit $5.66 billion in November of 2021, compared to $5.69 billion in the same month of 2020.
It attributed the decrease in imports value due to the decline in the value of imports of some commodities, such as: wheat 6.1 percent, passenger cars 15.6 percent, meat 21.4 percent, and corn 32.5 percent.
The value of imports of some commodities hiked during November 2021 compared to the same month of the previous year, such as: petroleum products by 78.6 percent, copper and its products by 60.3 percent, medicines and pharmaceutical preparations by 37.9 percent, and plastics in their primary forms by 35.0 percent