COOKIE NOTICE

We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by closing this message box or continuing to use our site. To find out more, including how to change your settings, see our Cookie Policy

Trade balance deficit drops 9% YoY in 2020

Export volumes were recorded at $27.6 billion in 2020, compared to $30.5 billion in 2019, and $29.3 billion in 2018

By: Business Today Egypt

Mon, Apr. 12, 2021

Overall trade balance deficit dropped 9 percent year-on-year (y-o-y), down to $42 billion in 2020 compared to $45.9 billion in 2019, as a result of the decline in the value of imports, writes the cabinet’s media center in their latest infographic.

Reviewing 2020’s key economic figures and indicators, it notes that exports tumbled almost 10 percent y-o-y to $27.6 billion last year from $30.5 billion in 2019, while imports fell 9 percent y-o-y to $69.6 billion.

The infographic explained that Egypt’s foreign trade achieved tangible progress due to its economic reforms, reflected in the strengthening of exports, support for exporters and an increase in the added value of the local product, as well as work to support the various productive sectors.

172800087_1903249476520075_5364714278230973041_n

 

Export volumes were recorded at $27.6 billion in 2020, compared to $30.5 billion in 2019, and $29.3 billion in 2018.

Imports saw a recorded $69.6 billion in 2020, compared to $76.4 billion in 2019, and $81.9 billion in 2018.

The value of exports were around $27.6 billion, with finished goods (cars, ready-to-wear clothing, etc.) as 47.9 percent of total exports followed by semi-finished goods (steel, cement, etc.) at 27.3 percent, and fuel at 13.6 percent.