The first 9 months of the year saw improved performance in terms of the Egyptian economy’s transactions with the outside world
Egypt’s non-oil product trade deficit continues its incline as recent data note a 12.7% increase year-on-year, adding $3.7 billion, closing on $30.7 billion during the first 9 months of 2021.
According to the Ministry of Finance, the increase was attributed to the increase in payments for non-oil merchandise imports, with non-oil exports increasing $1 billion to record at $14.5 billion.
Top non-oil imports included spare car parts, medical sterilizers, as well as railway locomotives.
Top exports were mainly electrical appliances for home use, wires and cables.
The first 9 months of the year saw improved performance in terms of the Egyptian economy’s transactions with the outside world, with the balance of payments recording a total surplus of $1.8 billion, compared to a deficit of $5.1 billion in the comparable period of the fiscal year 2019-2020.
Recent data release last week announced that the current account deficit widened to $13.3 billion in the first nine months of FY20/21, compared to $7.3 billion in the corresponding period a year earlier.
