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trade

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

Customs Authority’s digital platform mandatory by July: FinMinistry

Importers are also required to review and confirm shipment files using an electronic signature

Suez Canal gains $2B in revenue despite Ever Given incident

Chairman of the Suez Canal Authority Osama Rabie also mentioned that negotiations for compensation for losses incurred from the blockage with the ship’s company are underway

96% of ME trade companies to reconfigure supply chains within 7.4 months

In the Middle East, big data and analytics were believed by 56% to have a positive impact on their ability to trade across borders in the next 3-5 years

Egypt’s trade deficit down by 17.9% by end of January 2021: CAPMAS

Egyptian exports also declined, going down by 8.4 percent in January, recording at $2.5 billion