Egypt’s Trade Deficit Declines 32.4% YoY in September 2020

Egypt’s trade deficit declined by 32.4% year-on-year (YoY) to USD 2.7 billion in September 2020, from USD 4.0 billion in the same month in 2019, according to the country’s Central Agency for Public Mobilization and Statistics (CAPMAS).

Foreign trade data published in CAPMAS’ monthly bulletin stated that the value of Egypt’s exports fell 2.8% YoY to USD 2.3 billion in September 2020, compared to USD 2.4 billion in September 2019. The decrease in the value of exports was attributed to a reduction in commodities including crude oil (down 38.4% YoY), petroleum products (down 36.5% YoY), fertiliser (down 33.4% YoY) and ready-made clothing (down 5.1% YoY).

However, the value of other exports increased during September 2020, compared to the same mont...