The non-oil trade deficit widened by 6.6 percent to record $ 19.1 billion, due to higher non-oil imports according to recent data by the Central Bank of Egypt.<\/p>\n
Egypt\u2019s trade balance fell further into the red during 2Q2020-2021, reaching $ 10.6 bn as it widened 7 percent from the same period a year earlier.<\/p>\n
This was mainly due to a fall in exports, which were valued at $ 6.6 bn during the quarter compared to $ 7.1 bn in 2019-2020.<\/p>\n
Meanwhile, imports picked up slightly from last year, rising a little over 1 percent to hit $ 17.3 bn.<\/p>\n
The country\u2019s deficit widened 24 percent on a quarterly basis from the $ 8.6 billion deficit recorded in 1Q.<\/p>\n
This was largely due to the country spending $ 2.5 billion more on imports in 2Q than 1Q. This is more than double the rate of widening seen between the first and second quarters in 2019-2020, a phenomenon that goes unexplained by the central bank\u2019s data.<\/p>\n","protected":false},"excerpt":{"rendered":"
The\u00a0 non-oil\u00a0 trade\u00a0 deficit\u00a0 widened by\u00a0 6.6 percent\u00a0to\u00a0record $\u00a0 19.1\u00a0 billion,\u00a0 due\u00a0 to\u00a0 higher\u00a0 non-oil\u00a0 imports\u00a0 according to recent data by the Central Bank of Egypt.<\/p>\n","protected":false},"author":4,"featured_media":320045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[27],"tags":[142],"class_list":["post-321892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-export","tag-trade-deficit"],"yoast_head":"\n