Increase in Egypt’s Non-Oil Trade Deficit

Egypt’s non-oil trade balance deficit rose 12.7% to US$30.7 billion between July 2020 and March 2021, according to data from the Ministry of Finance. The rise came as a result of the US$4.5 billion increase in payments for non-oil merchandise imports, amounting to a record US$45.4 billion, which exceeded the increase in receipts from non-oil merchandise exports.

The increase in imports was concentrated in medicines and medical sterilizers, needed to counter coronavirus, while corn, auto parts, tractors and railway locomotives also increased. The increase in non-oil merchandise exports was about US$1 billion, to a total of US$14.6 billion, most of which came in the exports of electrical appliances for home use and cables.