{"id":29084,"date":"2020-08-01T17:17:00","date_gmt":"2020-08-01T15:17:00","guid":{"rendered":"https:\/\/ecomnewsmed.com\/?post_type=news&#038;p=29084"},"modified":"2020-08-26T15:16:39","modified_gmt":"2020-08-26T13:16:39","slug":"egypt-the-trade-situation-is-improving-but-thats-not-counting-the-covid-19%e2%80%a8","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2020\/08\/01\/egypt-the-trade-situation-is-improving-but-thats-not-counting-the-covid-19%e2%80%a8\/","title":{"rendered":"Egypt : The trade situation is improving, but that&#8217;s not counting the Covid-19\u2028"},"content":"\n  \n    \n      \nMeanwhile, the balance of payments surplus fell from $ 351.2 million to $ 5.1 billion at the same time.\n\n    \n  \n\n\n  \n    \n      \nThe trade deficit was reduced from $ 29.7 billion (or 9.8% of GDP) to $ 28.1 billion (or 8.6% of GDP). The energy deficit fell from $ 294.3 million to $ 773.3 million, the amount of hydrocarbon exports (-14% to $ 7.3 billion) having decreased more rapidly than that of imports (-8% to 8 , $ 1 billion).\n\n    \n  \n\n\n  \n    \n      \nThe amount of non-hydrocarbon exports increased by 10% to $ 13.6 billion while that of non-hydrocarbon imports decreased by 2% to $ 40.9 billion.\n\n    \n  \n\n\n  \n    \n      \nThe amount of revenue from the operation of the Suez Canal rose from $ 4.3 billion to $ 4.5 billion, an increase of over 4%.\n\n    \n  \n\n\n  \n    \n      \nTourism receipts rose from $ 9.4 billion to $ 9.6 billion, an increase of close to 2%.\n\n    \n  \n\n\n  \n    \n      \nExpatriate transfers (remittances) rose from $ 18.2 billion to $ 21.5 billion, an increase of 18%.\n\n    \n  \n\n\n  \n    \n      \nNet direct investment flows were reduced from $ 6.5 billion to $ 5.9 billion.\n\n    \n  \n\n\n  \n    \n      \nThe balance of portfolio investment flows was reduced from a surplus of $ 1.1 billion to a deficit of $ 7.9 billion.\n\n    \n  \n\n\n  \n    \n      \nThe Egyptian authorities have announced the first economic results for the 2019\/2020 fiscal year which ended in June.\n\n    \n  \n\n\n  \n    \n      \nThe GDP volume growth rate was reduced from 5.6% in 2018\/2019 to 3.8% in 2019\/2020 against 6% initially forecast. The public deficit was reduced from 8.2% of GDP in 2018\/2019 to 7.8% of GDP in 2019\/2020.\n\n    \n  \n\n\n  \n    \n      \nThe primary surplus was reduced from 2% of GDP to 1.8% of GDP. As for the public debt, it was reduced from 90.4% of GDP at the end of June 2019 to 86.1% of GDP at the end of June 2020.\n\n    \n  \n\n","author":15,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","tags":[6042,5766,5751,5799,5750],"location":[5600],"class_list":["post-29084","news","type-news","status-publish","hentry","tag-covid19-en","tag-economic-analysis","tag-economy","tag-energy","tag-news","location-egypt"],"short_url":"https:\/\/bit.ly\/2EynwlQ","have_related_news":"done","chapo":"<p class=\"p1\"><span class=\"s1\">According to figures published by the Central Bank, the current account deficit was reduced from $ 9.8 billion or 3.2% of GDP during the first nine months of fiscal year 2018\/2019 to $ 7.3 billion (i.e. 2.2% of GDP) during the 2019\/2020 fiscal year (July 2019-March 2020), i.e. before the Covid 19 crisis made its effects felt.<\/span><span class=\"s2\"><br \/>\r\n<\/span><\/p>","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/08\/egypt-the-trade-situation-is-improving-but-thats-not-counting-the-covid-19e280a8-550x360.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/08\/egypt-the-trade-situation-is-improving-but-thats-not-counting-the-covid-19e280a8-550x360.jpg 550w","sizes":"550px","alt":"Egypt : The trade situation is improving, but that's not counting the Covid-19\u2028","width":550,"height":360,"ratio":0.75,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/08\/egypt-the-trade-situation-is-improving-but-thats-not-counting-the-covid-19e280a8-877x658.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/08\/egypt-the-trade-situation-is-improving-but-thats-not-counting-the-covid-19e280a8-877x658.jpg 1170w","sizes":"1170px","alt":"Egypt : The trade situation is improving, but that's not counting the Covid-19\u2028","width":1170,"height":658,"ratio":0.75,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Egypt : The trade situation is improving, but that&#039;s not counting the Covid-19\u2028 - Ecomnews Med<\/title>\n<meta name=\"description\" content=\"Meanwhile, the balance of payments surplus fell from $ 351.2 million to $ 5.1 billion at the same time. The trade deficit was reduced from $ 29.7 billion\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ecomnewsmed.com\/en\/2020\/08\/01\/egypt-the-trade-situation-is-improving-but-thats-not-counting-the-covid-19\u2028\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt : The trade situation is improving, but that&#039;s not counting the Covid-19\u2028 - Ecomnews Med\" \/>\n<meta property=\"og:description\" content=\"Meanwhile, the balance of payments surplus fell from $ 351.2 million to $ 5.1 billion at the same time. 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