The Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed that Egypt saw a decrease of 17.9% in its trade balance during January 2021.
Noting in its Monthly Bulletin of “Foreign Trade Data” for January 2021, CAPMAS also said that Egypt’s deficit value of trade balance reached $3.15bn during the month, versus $3.85bn for the same month of previous year.
The country’s exports value decreased by 8.4% to $2.50bn during January 2021, versus $2.72bn for the same month of previous year. This downturn was driven by a decrease in value of some commodities, including: petroleum products by 2.5%; crude oil by 11.9%; ready-made clothes by 8.0%; and pasta and various food preparations by 2.3%.
Meanwhile, the exports value of some commodities increased during January 2021, versus the same month of previous year. This included: fertilisers by 19.3%; fresh fruits by 17.9%; plastics in their primary forms by 11.5%; and carpets and kilims by 7.1%.
Egypt’s imports value decreased by 13.9% to $5.65bn during January 2021, versus $6.57bn for the same month of previous year. This was driven by the decreased value of some commodities, such as: petroleum products by 9.5%; passenger cars by 14.1%; raw materials of iron or steel by 3.7%; and crude oil by 53.7%.
Imports of some commodities increased in January 2021, versus the same month of previous year. This included: soybeans by 162.4%; corn by 43.9%; plastics in their primary forms by 18.9%; medicines and pharmaceuticals by 12.0%.