Egypt: The trade balance deficit decreased by 17% in 11 months

The trade balance deficit of the Arab Republic of Egypt decreased by 17%, and recorded about $ 35.3 billion, during the period from January to the end of November of 2020 (11 months), Compared to $ 42.46 billion, during the corresponding period of 2019.

Nevin Jama, the Egyptian Minister of Trade and Industry, said that the ministry is implementing an ambitious plan to double commodity exports and reach $ 100 billion over the next few years, by opening export markets. New to the Egyptian product and access to various foreign markets, especially the markets that are linked with Egypt by preferential agreements that allow access to about 2 billion people.

Jamea explained that the total value of Egyptian exports to foreign markets during the first 11 months of 2020 amounted to about $ 22.8 billion, compared to about $ 23.364 billion during the same period in 2019. This is a slight difference and an acceptable rate in light of global conditions, and exports are expected to exceed the barrier of 25 billion dollars by the end of 2020.

She added that maintaining the rates of exports despite the crisis reflects the ambitious vision of the ministry and the plan it adopted to confront the crisis and deal with its repercussions by focusing on a number of priority sectors in export and on Chief among them is the medical and food industries.

and indicated that the ministry's plan aims to raise the competitiveness of the Egyptian industry and open more markets for the Egyptian product, which would contribute to achieving a boom in export rates during the next stage. / p>

It also showed that Egyptian imports witnessed a significant decline during the period from January to November of 2020, reaching about 58 billion and 106 million dollars, compared to 65 billion and 828 million dollars. During the corresponding period last year, a decrease of 12%.

and identified the sectors that achieved an increase in exports during the period from January to November of 2020, including the sectors of building materials worth 5 billion and 590 million dollars, and medical industries, a value of 488 One million dollars, and the food industries - 3 billion and 155 million dollars.

and reported that the largest markets receiving Egyptian exports during this period include the UAE, with a value of 2 billion and 660 million dollars, Saudi Arabia with a value of one billion and 520 million dollars, in addition to Turkey, worth one billion And 424 million dollars, the United States with a value of one billion and 385 million dollars, and Italy with a value of one billion and 113 million dollars.

Jameh indicated to the end of the export support file and the payment of late dues to exporters by introducing many initiatives that included paying 30% of the arrears with the payment of dues to companies that arrive ...