Egypt’s trade deficit decreased in July 2020 by 51.8% year-on-year, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The value of the trade deficit amounted to about $2.28bn in July 2020, compared to $4.73bn in the same month of the previous year.
Egyptian exports fell to $2.15bn during July 2020, compared to $2.53bn in July 2019, due to the decline in the value of some exports, mainly garments by 22.6%, fertilisers by 4.0%, petroleum products by 60.9%, and crude oil by 43.7%.
The CAPMAS added that the value of other exports increased during July 2020 compared to the same month of the previous year, mainly carpets by 7.8%, pharmaceuticals by 4%, furniture by 12.4%, iron by 101.3%.
On the other hand, the value of Egyptian imports decreased by 39.0%, reaching $4.43bn during July 2020, compared to $7.26bn in July 2019. It can be attributed to the value decline of some imports, mainly pharmaceuticals by 15.3%, organic and inorganic chemicals by 24.2%, petroleum products by 71.4%, and corn by 10.4%.
However, the value of other imports increased during July 2020 compared to the same month of the previous year, mainly crude oil by 104.3%; wheat by 2.2%; refined oils by 4%; and doors, pillars, and installations made of iron or steel by 63.7%.