Egypt’s trade deficit down 1.2% to $3.34bln in February 2021: CAPMAS

CAPMAS also reported that the value of exports decreased by 2% to $2.69bln during February 2021

  
Image used for illustrative purpose. Container trucks stand in line on the road due to bad weather in the Mediterranean city of Alexandria, March 30, 2019.

Image used for illustrative purpose. Container trucks stand in line on the road due to bad weather in the Mediterranean city of Alexandria, March 30, 2019.

REUTERS/Amr Abdallah Dalsh

Egypt’s trade deficit decreased 1.2% in February 2021 to $3.34bn, compared to the $3.38bn reported for February 2020, the Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed.

The data was published, on Tuesday, in the agency’s monthly bulletin of foreign trade data for February 2021. 

CAPMAS also reported that the value of exports decreased by 2% to $2.69bn during February 2021, compared to $2.75bn for the same month of the previous year. This was driven by the value of some exports falling, including: potatoes by 17.6%; oranges by 58.8%; detergents by 21.7%; and drugs and pharmaceuticals by 42.4%.

However, the value of some commodity exports increased during February 2021 compared to the same month of the previous year, the most important of which were: fresh fruits by 23.1%; garments by 6.0%; and polymers by 47.7%.

Meanwhile, the value of Egypt’s imports decreased by 1.6%, reaching $6.03bn during February 2021, compared to $6.13bn for the same month of the previous year. This was due to the decrease in the value of imports of some commodities, the most important of which were: crude oil by 61.0%; organic and inorganic chemicals by 11.6%; meat by 11.7%; and filaments and vegetable or synthetic fibres by 12.0%.

The value of imports of some commodities increased during February 2021 compared to the same month of the previous year, the most important of which were: petroleum products by 39.1%; passenger cars by 23.9%; raw materials of iron or steel by 6.7%; and medicines and pharmaceuticals by 14.9%.

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