Egypt’s non-oil imports declined to $18.805bn during the January-April 2020 period, compared to the same period in 2019, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The latest figures reflect a 21.1% decrease on the $23.864bn reported for non-oil imports during the same period in 2019.
In a statement on Thursday, CAPMAS said the value of food imports during the January-April 2020 period amounted to $3.715bn. This reflects a 22.6% decrease on the $4.802bn reported for the same period in 2019.
The agency said that China, one of the most important importers of Egyptian goods, recorded imports amounting to $3.080bn against the $4.126m reported in the same period last year. This was followed by the US, that recorded imports amounting to $1.373bn against $1.869m. Germany came in third, with imports amounting to $1.182bn compared to the $1.422bn in the same period of last year. followed by Brazil, with imports from Egypt amounting to $445m against $876m in the same period last year. Italy reported imports amounting to $783m compared to $1.093m, while Turkey came in last with imports of $999m, falling from $1.006m.
The agency noted that the value of Egypt’s non-oil exports amounted to $8.707bn during the period from January to April 2020, compared to $8.867m during the same period in 2019. The latest figures reflect a decrease of 1.8% on those reported in the same period last year.
This decrease is due to the decrease in exports of raw materials, which amounted to $948m in the period from January to April 2020 against $961m in the same period in 2019. More raw materials were directed to local manufacturing instead of exporting them for a weak fee. This lead to an increase in local production and covering local market needs for Egyptian products, as opposed to encouraging cash reserve draining imports.
Saudi Arabia reported the highest decline in exports from Egypt, recording exports of $513m in the period of January to April 2020, compared to the $583m in the same period in 2019.
It was followed by Jordan, which recorded receiving Egyptian exports of $148m against the $184m reported in January-April 2019. The UK followed in third place, receiving Egyptian exports amounting to $221m against the $290m, then Germany, which amounted to $196m against $228m. Italy received exports of $490m in the January to April 2020 period, against $495m in the same period of 2019.