Egypt’s trade deficit declines 14% in December 2020

The balance of trade deficit in Egypt shrank by 14 percent year-on-year (YoY) to $3.28 billion in December 2020, compared to $3.81 billion at the same period a year earlier, according to new data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Exports

The value of exports fell by 0.1 percent YoY to $2.76 billion last December, compared to $2.77 billion.

Exports of petroleum slumped by 38.3 percent, crude petroleum by 0.7 percent, pastries and meal preparations by 3.3 percent, and sanitaryware and ceramics by 12.5 percent.

However, exports of ready-made garments increased by 8 percent, fertilisers by 45.3 percent, and plastics by 35 percent.

Imports

Egypt’s imports slid by 8.1 percent to $6.04 billion in December 2020, compared to $ 6.58 billion in the same month a year earlier.

Imports of iron and steel went down by 19 percent, passenger cars by 16.8 percent, organic and inorganic chemical materials by 18.5 percent, and phones by 38.2 percent.

Meanwhile, imports of crude petroleum increased by 3.6 percent, petroleum products by 10.2 percent, wheat by 16.5 percent, and medicines and pharmaceuticals by 13.7 percent.