Egypt's BOP declines by 8.6% in June 2020 compared to same month of 2019

CAIRO – 11 September 2020: The Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that Egypt's Balance of Payments (BOP) declined by 8.6 percent in June 2020 compared to the same month of the previous year.

That is mainly because of the fall of exports by 7.8 percent to $2.26 billion down from $2.45 billion. That is why the BOP became $3.3 billion instead of $3.61 billion. However, the country's imports of certain goods also decreased.

On top of those is copper with a fall of 28.8 percent recording $78.4 million compared to $110 million. Steel and iron pipes come next as they fell by 8.7 percent hitting $78 million compared to $85.5 million.

The third place is occupied by wheat whose imports declined by 5.3 percent to become $147.3 million down from $155.5 million. Corn ranks fourth as its imports fell by 2.9 percent hitting $172 million instead of $177 million.

Fifth and last, red meat imports decreased by 1.6 percent to record $236.6 million compared to $240.5 million.