Egypt’s non-oil trade deficit rises 12.7 percent

Mohammed Abu Zaid
A view of the skyline of Egypt’s capital Cairo (front) and its twin city of Giza (behind), showing in the background (R to L) the Great Pyramid of Khufu (Cheops), the Pyramid of Khafra (Chephren), and the Pyramid of Menkaure (Menkheres). (File/AFP)
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  • The increase in imports was concentrated in medicines and medical sterilizers, needed to counter COVID-19

CAIRO: Egypt’s non-oil trade balance deficit rose 12.7 percent to $30.7 billion between July 2020 and March 2021, according to data from the Ministry of Finance.
The rise came as a result of the $4.5 billion increase in payments for non-oil merchandise imports, amounting to a record $45.4 billion, which exceeded the increase in receipts from non-oil merchandise exports.
The increase in imports was concentrated in medicines and medical sterilizers, needed to counter coronavirus, while corn, auto parts, tractors and railway locomotives also increased.
The increase in non-oil merchandise exports was about $1 billion, to a total of $14.6 billion, most of which came in the exports of electrical appliances for home use and cables.

Topics: Egypt economy