{"id":559409,"date":"2021-01-20T03:39:21","date_gmt":"2021-01-20T03:39:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/"},"modified":"2021-01-20T03:39:21","modified_gmt":"2021-01-20T03:39:21","slug":"2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/","title":{"rendered":"2020 was a surprisingly good year for our non-oil trade balance"},"content":{"rendered":"

A slowdown in imports during the pandemic helped narrow Egypt\u2019s non-oil<\/strong> trade deficit by 17% y-o-y in 2020<\/strong>, falling to USD 38.3 bn in 2020 from USD 46.2 bn in 2019, Trade Minister Nevine Gamea said in a statement<\/a>. Non-oil imports fell 12% during the year while exports declined 1%<\/p>\n

Remember:<\/strong> These figures don\u2019t include oil and gas trade, whose deficit continued to widen in 1Q<\/a> and 2Q<\/a> due to collapsing exports. This means that the country\u2019s overall trade balance probably doesn\u2019t look quite as rosy as the non-oil figures imply.<\/p>\n

At the top of the class:<\/strong> Construction, which saw the value of exports rise 20% last year to hit EGP 6.1 bn.<\/p>\n

And the top destinations? <\/strong>The UAE, US, Italy, Saudi Arabia and Turkey, which received 36% of our total exports last year worth some USD 9 bn.<\/p>\n

SPEAKING OF EXPORTS- Fees on nitrogen fertilizer exports will remain in place <\/strong>but will be reduced to EGP 250 per tonne<\/strong>, down from EGP 550 per tonne, according to a Trade Ministry decision<\/a> issued yesterday. The fees were imposed on local fertilizer manufacturers back in 2018<\/a> when companies began to fall behind on their monthly deliveries to the state and direct their output towards exports. Fertilizer companies had then said they lose<\/a> as much as EGP 250 per tonne when selling their output to the government \u2014 which provides the commodity to farmers at a subsidized price. The fee is meant to discourage fertilizer manufacturers from the practice and ensure the government has its needed supply.<\/p>\n","protected":false},"excerpt":{"rendered":"

A slowdown in imports during the pandemic helped narrow Egypt\u2019s non-oil trade deficit by 17% y-o-y in 2020, falling to USD 38.3 bn in 2020 from USD 46.2 bn in 2019, Trade Minister Nevine Gamea said in a statement. Non-oil imports fell 12% during the year while exports declined 1% Remember: These figures don\u2019t include […]<\/p>\n","protected":false},"author":1,"featured_media":559410,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8516],"tags":[130,72,331,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-construction","tag-enterpriseam","tag-nevine-gamea","tag-trade","wpautop","entry"],"acf":{"mongo_id":"b507d3d6-14a1-44c2-a2f5-4a26ea97e66f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/1\/249.jpg","photo_position":"above","related_issue":[559391],"teaser":"","voice_url":""},"yoast_head":"\n2020 was a surprisingly good year for our non-oil trade balance - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2020 was a surprisingly good year for our non-oil trade balance\" \/>\n<meta property=\"og:description\" content=\"A slowdown in imports during the pandemic helped narrow Egypt\u2019s non-oil trade deficit by 17% y-o-y in 2020, falling to USD 38.3 bn in 2020 from USD 46.2 bn in 2019, Trade Minister Nevine Gamea said in a statement. Non-oil imports fell 12% during the year while exports declined 1% Remember: These figures don\u2019t include […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-20T03:39:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/249.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"2020 was a surprisingly good year for our non-oil trade balance\",\"datePublished\":\"2021-01-20T03:39:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\"},\"wordCount\":252,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/249.jpg?fit=%2C&ssl=1\",\"keywords\":[\"construction\",\"EnterpriseAM\",\"Nevine Gamea\",\"trade\"],\"articleSection\":[\"Trade\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\",\"name\":\"2020 was a surprisingly good year for our non-oil trade balance - 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The slim drop in the deficit came as non-oil exports rose 6% y-o-y to USD 7.44\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/187.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563809,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/","url_meta":{"origin":559409,"position":1},"title":"Non-oil exports jump by 23% in 1H2021","author":"enterpriseam admin","date":"25 July 2021","format":false,"excerpt":"Non-oil exports increased by 23% y-o-y in 1H2021, reaching USD 15.4 bn compared to USD 12.5 bn in 1H2020, Trade and Industry Minister Nevine Gamea said in a statement.Exports doubled in 2Q2021? Central bank figures released last month showed non-oil exports rose to USD 5.3 bn in 1Q2021. Accounting for\u2026","rel":"","context":"In "Trade"","block_context":{"text":"Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/231.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570840,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypt-non-oil-import-bill-slashed-by-a-quarter-in-1q2020\/","url_meta":{"origin":559409,"position":2},"title":"Egypt non-oil import bill slashed by a quarter in 1Q2020","author":"enterpriseam admin","date":"16 April 2020","format":false,"excerpt":"Egypt\u2019s non-oil import bill slashed by a quarter in 1Q2020: Egypt\u2019s 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\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636412,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/31\/non-oil-trade-deficit-declines-16-in-1h-2024\/","url_meta":{"origin":559409,"position":3},"title":"Non-oil trade deficit declines 16% in 1H 2024","author":"enterpriseam admin","date":"31 July 2024","format":false,"excerpt":"The improvement was attributed to a 9.8% increase in exports and a 3.3% decrease in imports","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2578.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542857,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/20\/non-oil-exports-hit-record-usd-32-bn-in-2021\/","url_meta":{"origin":559409,"position":4},"title":"Non-oil exports hit record USD 32 bn in 2021","author":"enterpriseam admin","date":"20 January 2022","format":false,"excerpt":"Non-oil exports rose 26% y-o-y to hit a record USD 32 bn in 2021, up from USD 25.4 bn in 2020, Trade and Industry Minister Nevine Gamea said in a statement. Government efforts to support exporters with subsidies and pay off arrears, restructure export councils, and bilateral and multilateral trade\u2026","rel":"","context":"In "Trade"","block_context":{"text":"Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/245.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":649327,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/egypts-non-oil-exports-grow-15-y-on-y-in-1q17-to-usd-5-5-bn\/","url_meta":{"origin":559409,"position":5},"title":"Egypt\u2019s non-oil exports grow 15% y-on-y in 1Q17 to USD 5.5 bn","author":"enterpriseam admin","date":"30 April 2017","format":false,"excerpt":"Egypt\u2019s non-oil exports are up 15% year-on-year in 1Q17 to USD 5.5 bn, up from USD 4.8 bn in 1Q16, Trade and Industry Minister Tarek Kabil said as he released trade figures for the quarter. 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