Egypt's trade deficit records $3.3B in November

CAIRO – 8 February 2021: Egypt’s trade deficit dipped 4.7 percent during November 2020, recording $3.3 billion, compared to $4.7 billion in the same month of 2019, according to the state's statistics agency CAPMAS. 

In its monthly bulletin on foreign trade data, CAPMAS said exports declined 11.2 percent to reach $2.2billion in November 2020, compared to $2.5 billion during the same month of 2019. 

The bulletin attributed the decrease of exports to the fall in the exports of various commodities, such as: petroleum products by 40.1 percent ready-made clothes by 4.6 percent, crude oil by 38.8 percent, and various pasta and food preparations accounted for 2.4 percent.

Meanwhile, exports of some other commodities witnessed an increase in November such as: plastics by 19.4 percent, carpets and kilims by 35.7 percent, medicine and pharmaceutical products by 6.3percent, and furniture by 21.3 percent.

On the other side, the bulletin showed a decline of 7.4 percent in the imports to hit $5.5 billion in November of 2020, compared to $5.9 billion in the same month of 2019. 

CAPMAS ascribed this decrease to the drop-in imports of petroleum products by 20.2 percent wheat by 14.2 percent, Medicines and pharmaceuticals by 24.3 percent, and plastics in primary forms by 2.5percent.

On the other hand, imports of other commodities showed a rise such as passenger cars by 57.5percent, Meat by 2.5 percent, refined oils by 33.9 percent, and copper and articles thereof by 30.1 percent.