ArabFinance: Egypt’s trade balance deficit dropped by 63.1% to $1.19 billion in November 2021, as compared to $3.22 billion in the same month of 2020, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release.

The value of Egyptian exports surged by 80.6% year-on-year (YoY) to $4.48 billion in November 2021 from $2.48 billion, the CAPMAS added.

The agency attributed this surge to the increase in the value of some goods’ exports, including fertilizers, fresh fruits, and ready-made clothing by 83.3%, 50.2%, and 31.5%, respectively.

On the other hand, the value of Egypt’s imports stood at $5.66 billion last November, slipping by 0.5% from $5.69 billion in the corresponding month of 2020.

The decrease in imports value was driven by the decline in some imports’ value, including wheat, passenger cars, and meat which fell by 6.1%, 15.6%, and 21.4%.

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