The Central Agency for Public Mobilization and Statistics revealed that the trade balance deficit reached 3.02 billion dollars during the month of August 2020, compared to 3.80 billion dollars during the same month of the previous year, representing a decrease of 20.5 percent.
The value of exports decreased by 9.4 percent, as it reached 1.91 billion dollars during the month of August 2020 compared to 2.11 billion dollars during the same month of the previous year. This is due to the decrease in the value of exports of some commodities, the most important of which are: Petroleum products decreased by 32 percent, crude oil accounted for 46.5 percent, ready-made garments increased by 31 percent, and soaps & cleaning products accounted for 25 percent. On the other hand, the value of exports of some commodities increased, the most important of which were: fertilizers by 13.9 percent, plastics in their primary forms, "plastic" by 4 percent, and various pastes and food preparations by 32.6 percent.
As for imports, they decreased by 16.6 percent, reaching 4.93 billion dollars during the month of August 2020, compared to 5.91 billion dollars during the same month of the previous year. This is due to the decrease in the value of imports of some commodities, the most important of which are: petroleum products by 49.4 percent, wheat by 3.6 percent, meat by 8.0 percent, and iron and steel raw materials by 44.7 percent.
Source (Youm7 Website-Egypt, Edited)
