An Egyptian government report on Sunday stated that the trade balance deficit fell during 2020 by nine percent, despite coronavirus crisis, in light of economic and reform decisions taken by the state and the strategic plans it developed. This has contributed to the improvement of Egypt’s trade balance and enabled the country to deal positively with the negative repercussions of the pandemic on the economy and global trade movement. The report also shed light how Egypt managed the global trade crisis in 2020, having achieve an improvement in the trade balance thanks to strategic planning since the beginning of economic reform, a year after the pandemic. Egypt’s trade balance deficit declined to $42 billion in 2020 compared to $45.9 billion in 2019, as a result of the decline in the value of imports. The trade balance deficit was $52.6 billion in 2018, $40.3 billion in 2017, and $48.9 billion in 2016.

Source: Egypt Independent April 11, 2021 14:15 UTC