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Egypt's non-oil imports decrease to $45.55bn in 9M 2020: CAPMAS - Daily News Egypt

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Egypt’s non-oil imports decrease to $45.55bn in 9M 2020: CAPMAS

Non-oil exports see slight downturn to total $18.76bn in 2020, against $19.23bn last year


The Central Agency for Public Mobilization and Statistics (CAPMAS) said that Egypt’s total non-oil imports declined to $45.55bn during the first nine months (9M) of 2020.

The figures for the period from January to September 2020 compared to the $52.47bn recorded during the same period in 2019 reflect a decrease of 13.19%.

In a report on Monday, the agency said that the value of agricultural and food imports decreased by 12.2% to $10.331bn in 9M of 2020, compared to $11.767bn in the same period of 2019.

According to the agency, China ranked top among those countries from which imports decreased, reaching $8.181bn, compared to $9.179bn in the comparison period. It was followed by the US with $3.439bn compared to $3.913bn; Germany with $2.818bn compared to $3.225bn; Brazil with $1.569bn compared to $2.148bn; then Russia with $1.445bn compared to $1.784bn.

CAPMAS said that the most important commodity groups which saw imports decrease were boilers and machines, mechanical devices, and their parts, reaching $4.402bn in 9M of 2020, compared to $5.007bn in the same period of 2019.

In the same comparison period, this was followed by: machinery and electrical equipment, and their parts, reaching $4.104bn compared to $5.313bn; the grain reaching $3.613bn compared to $3.985bn; iron and steel reaching $3.816bn compared to $4.982; followed by plastics reaching $2.406bn compared to $2.952bn.

CAPMAS said that Egypt’s total non-oil exports amounted to $18.76bn during the period from January to September 2020, compared to $19.23bn during the same period in 2019, reflecting a decrease of 2.5%.

It explained that this decrease came as a result of the decline in exports of raw cotton and raw materials, which amounted to $1.872bn compared to $1.981bn. This was due to raw cotton and raw materials being rerouted to local manufacturing, instead of exporting them for a feeble return. It is anticipated that this will lead to increasing local production and covering the needs for Egyptian products in the local market instead of imports.

According to the agency, Saudi Arabia was one of the most important countries to which exports decreased, reaching $1.179bn compared to $1.296bn, followed by the US which accounted for $1.113bn compared to $1632m. This was followed by Italy with $886m compared to the previous $999m; the UK with $515m against $731m; and Spain with $500m compared to $652m.

According to CAPMAS, the most important commodity groups whose exports decreased during this time period were represented in: fuels, mineral oils, and products of their distillation reaching $1.856bn compared to $2.371bn; plastics standing at $1.250bn compared to $1526m; machinery, electrical equipment and their parts recording $1.126bn compared to $1.268bn; vegetables reaching $813m compared to $878m; and garments recording $685m compared to $812m.

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https://dailyfeed.dailynewsegypt.com/2020/11/09/egypts-non-oil-imports-decrease-to-45-55bn-in-9m-2020-capmas/
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