Browsing: Balance of payment

Egypt's BOP declined by 8.6% in June 2020

Egypt’s Balance of Payment (BOP) declined by 8.6 per cent in June 2020 compared to the same month in 2019 according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

According to CAPMAS, Egypt saw a trade deficit of $3.30 billion the same period.

This was majorly caused by the fall of exports by 7.8 per cent to $2.26 billion down from $2.45 billion causing a decrease in the BOP to $3.3 billion instead of $3.61 billion. The downturn has been attributed to the decreased value of some commodities, including fresh fruits at 10.5 per cent, ready-to-wear clothing at 2.5 per cent, crude oil at 46.3 per cent and plastics in primary forms at 10.4 per cent.

At the same period, the value of other exports increased during June 2020, which include various pastries and food preparations increased by 28.0 per cent, dairy products by 29.3 per cent and …