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- Egypt’s trade balance deficit narrowed by 22.5% in September 2021, recording US$2.39 billion, compared to US$3.08 billion in the same month of 2020, according to the Central Agency for Public Mobilization and Statistics (CAPMAS)
- Egypt’s trade deficit has gone down by 17.7% in August 2021, recording US$2.91 billion, after dropping by 14.6% to hit US$2.88 billion in July 2021.
- CAPMAS attributed the drop of the trade deficit to the increase of the exports by 36.6%. In absolute terms, it works out to US$3.45 billion in September 2021, compared to US$2.53 billion in September 2020
Egypt’s trade balance deficit narrowed by 22.5% in September 2021, recording US$2.39 billion, compared to US$3.08 billion in the same month of 2020, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
Egypt’s trade deficit has gone down by 17.7% in August 2021, recording US$2.91 billion, after dropping by 14.6% to hit US$2.88 billion in July 2021.
CAPMAS attributed the drop of the trade deficit to the increase of the exports by 36.6%. In absolute terms, it works out to US$3.45 billion in September 2021, compared to US$2.53 billion in September 2020.
Significantly, imports increased in September 2021 by 8.2% to reach $5.84 billion, up from $5.61 billion in September 2020. It was credited to export growth in commodities such as fertilizers (90.2%), Iron rods and wires (57%), food preparation items (31.5%), and ready-made garments (22.6%).
Egyptian exports jumped by 40% in the first 9 months of 2021, recording US$29.7 billion in the January-September months of 2021. Non-petroleum exports increased by26% year-on-year (YoY). It touched US$26.9 billion during the first 10 months of 2021. Some commodities saw drops in exports value in September 2021, including refined sugar by 60.3%, furniture by 39.0%, dairy products by 7.4%, and cotton by 3.1%.
CAPMAS attributed the climb in import values to the increase of imported plastics (in primary form) by 24.2%, crude oil by 53.2%, medicines and pharmaceutical preparations by 33.9%, and raw materials of iron or steel by 8.2%.Imported commodities that saw decline were mobile phones and accessories by 40.3%, wheat by 30.0%, and passenger cars by 22.3%.
