Egypt non-oil import bill slashed by a quarter in 1Q2020

Egypt’s non-oil import bill slashed by a quarter in 1Q2020: Egypt’s non-oil imports fell noticeably to USD 13.81 bn in the first quarter of the year, down 24% y-o-y from USD 18.23 bn in the first quarter of 2019, Trade Minister Nevine Gamea said, citing a General Organization for Export and Import Control (GOEIC) report. Non-oil exports, meanwhile, grew to USD 6.73 bn in 1Q2020, up 2% y-o-y from USD 6.58. This narrowed the non-oil trade deficit by 39%.