Egypt’s non-oil trade deficit down 17%

  • 22 January 2021 / News / 60 / Fares RAHAHLIA

Egypt’s non-oil trade deficit down 17%

Egypt’s non-oil trade deficit declined 17% Year on Year in 2020 due to lower imports, Trade and Industry Minister Nevine Gamea said in a December 19th statement

The deficit fell to $38.3 billion in 2020 from $46.2 billion in 2019, she noted.

Gamea highlighted that non-oil imports decreased 12% during the year, while exports declined 1%.

Imported food products are expected to rise due to a new requirement for traders to hold a license from the National Food Safety Authority.

The government decided in September to temporarily stop importing frozen poultry, and imposed an import ban on ceramics and porcelain until March.

source: ArabFinance