The value of exports jumped by 80.6% to$4.48 billion in November 2021, compared to $2.48 billion in November 2020, attributed to the rise in exports such as fertilizers by 83.3%
Egypt’s trade deficit continues to drop, falling a whopping 63.1% in November 2021 to hit $1.19 billion, compared to $3.22 billion in the same month of 2020, wrote the Central Agency for Public Mobilization and Statistics (CAPMAS) in its latest report.
The agency’s previous report noted that the country’s trade balance deficit fell 12.5% in October 2021, recording $2.63 billion.
Catch our 2021 Trade sum-up > Navigating choppy waters | How Egyptian Trade fared in 2021
The value of exports jumped by 80.6% to$4.48 billion in November 2021, compared to $2.48 billion in November 2020, attributed to the rise in exports such as fertilizers by 83.3%, plastics in their primary forms by 51.9%, fresh fruits by 50.2%, and ready-made clothes by 31.5%.
Other commodities saw drops in exports, including iron and steel by 14.2%; bars, rods, angles, and wires of iron by 11.4%; tiles and sanitary ware by 13.6%; and dairy products by 8.9%.
The value of imports dropped by 0.5%, recording a $5.66 billion in November 2021, compared to $5.69 billion in November 2020.
The decline was attributed to the decrease of imports such as wheat by 6.1%, passenger cars by 15.6%, meat by 21.4% and corn by 32.5%.
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Some other commodities’ value decreased in November2021, such as petroleum products by 78.6%, copper and articles thereof by 60.3%, medicines and pharmaceutical preparations by 37.9%, and plastics in their primary forms by 35.0%.
