Egypt reported a 4.7% decrease in trade deficit during November 2020, the Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed in its monthly bulletin of Foreign Trade Data for that month.
The report, issued on Monday, noted that Egypt’s trade deficit reached $3.3bn during November 2020, versus $3.4bn for the same month of the previous year, reflecting the 4.7% downturn.
The country’s exports value decreased by 11.2% to $2.2bn during November 2020, versus $2.5bn for the same month of previous year. This was attributed to a decrease in value of some commodities such as: petroleum products by 40.1%; ready-made clothes by 4.6%; crude oil by 38.8%; and various pasta and food preparations by 2.4%.
At the same time, the exports value of some commodities increased during November2020, versus the same month of previous year. These included: plastics in their primary forms by 19.4%; carpets and kilims by 35.7%; medicines and pharmaceuticals by 6.3%; and furniture by 21.3%.
The value of imports decreased by 7.4% to reach $5.5bn during November 2020, versus $5.9bn in the same month of previous year. This was due to the decreased value in some commodities, such as: petroleum products which increased by 20.2%; wheat which increased by 14.2%; medicines and pharmaceuticals which increased by 24.3%; and plastics in their primary forms which increased by 2.5%.
Imports of some commodities increased in November 2020, versus November 2019, including: cars by 57.5%; meat by 2.5%; refined oils by 33.9%; and copper and copper-based articles by 30.1%.