Egypt’s Trade Deficit Declines 20.5% YoY in August 2020

Data issued by Egypt’s state-run Central Agency for Public Mobilization and Statistics (CAPMAS), revealed a 20.5% year-on-year (YoY) decline in Egypt’s trade deficit to USD 3.02 billion in August 2020, from USD 3.80 billion a year ago.

Foreign trade statistics published in CAPMAS’ monthly bulletin stated that Egypt’s exports fell 9.4% YoY in August 2020 to reach USD 1.91 billion. The decrease was attributed to a reduction in the export of various commodities including crude oil (down 46.5% YoY), petroleum products (down 32.0% YoY), ready-made clothing (down 31.0% YoY), along with soap and cleaning products, which declined 25.0% YoY.

Imports were also shown t...