Cairo – Mubasher: Egypt's balance of trade deficit narrowed by 1% to $9.6 billion in the first quarter (Q1) of 2021, compared to $9.7 billion in Q1-20, the Minister of Planning and Economic Development, Hala El-Saeed, revealed.
The country’s non-oil exports rose by 6% to $7.4 billion in the January-March period, compared to $7 billion in the corresponding period in 2020, El-Saeed added in a statement on Wednesday.
Meanwhile, net foreign direct investment (FDI) started to recover, registering $3.4 billion in the first half (H1) of fiscal year (FY) 2020/2021, compared to $2.5 billion in the prior-year period.
In April, Suez Canal revenues reached an all-time high of $553.6 million, she added.
In addition, the inflation rate slowed down to 4.4% on a yearly basis and 1.2% on a monthly basis, while net international reserves continued its upward trend for the 10th month in a row to reach $40.3 billion at the end of April.
