63.1% decrease in trade deficit during November 2021

Egypt’s trade deficit reached $1.19bn during November2021, up from $3.22bn for the same month last year, a decrease of 63.1%, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

The value of exports increased by 80.6% to $4.48bn in November 2021, compared to $2.48bn in November 2020, due to a price increase of some commodities, 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%.

Some other commodities’ value decreased during November2021, such as 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%.

Moreover, the value of imports increased by 0.5% to $5.66bn in November 2021, versus $5.69bn for the same month of previous year, due to decreased value of some commodities, such as wheat by 6.1%, passenger cars by 15.6%, meat by 21.4%, and corn by 32.5%.

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%.