Cairo – Mubasher: Egypt recorded a trade deficit of $2.97 billion in November 2019, down by $1 billion or 25.3% from $3.97 billion in the same month a year earlier, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed.
Exports
The North African nation’s exports fell by 0.8% year-on-year to $2.37 billion in the eleventh month of 2019, compared to $2.39 billion, data showed on Thursday.
The decline in exports was attributed to a drop in some exports, mainly crude oil, ready-made garments, fertilizers, and carpets and rugs with 28.9%, 3.8%, 32.8%, and 10.4%, respectively.
Meanwhile, exports of petroleum products, various food products, fresh fruits, medicines and pharmaceuticals grew by 74.8%, 20.3%, 19.5%, and 41.7%, respectively.
Imports
The most populous Arab nation’s imports decreased by 16.1% to $5.34 billion in November 2019, compared to $6.36 billion in the same month of 2018 as imports of petroleum products, raw steel and iron, passenger cars, medicines and pharmaceuticals went down by 20.8%, 45.2%, 27.9%, and 12.7%, respectively.
On the other hand, imports of crude oil, wheat, soy beans, and maize increased by 56.1%, 5.0%, 148.0%, and 43.8%, respectively.
