Egypt's trade deficit dips 22.5% to $2.39B in September

CAIRO – 12 December 2021: Egypt’s trade deficit declined 22.5 percent during September 2021, recording $2.39 billion, compared to $3.08 billion in the same month of 2020, according to the state's statistics agency (CAPMAS).

In its monthly bulletin on foreign trade data, CAPMAS attributed the decrease of the trade deficit to the increase of the exports by 36.6 percent.

It added that the exports recorded $3.45 billion in September 2021, compared to $2.53 billion during the same month of 2020.

The bulletin attributed the increase of exports to the rise in the exports of various commodities, such as: fertilizers by 90.2 percent, iron rods, rods, angles and wires by 57.0 percent, food dough and preparations by 31.5 percent, and ready-made clothes by 22.6 percent.

Meanwhile, exports of some other commodities witnessed a decrease in September such as: dairy products by 7.4 percent, cotton fabrics by 3.1 percent, furniture by 39.0 percent, and refined sugar by 60.3 percent.

Moreover, the bulletin showed an increase of 8.2 percent in imports to hit $5.84 billion in September of 2021, compared to $5.61 billion in the same month of 2020.

It attributed the increase in imports value due to the increase in the value of imports of some commodities, such as: plastics in their primary forms by 24.2 percent, crude oil by 53.2 percent, medicines and pharmaceutical preparations by 33.9 percent, and raw materials of iron or steel by 8.2 percent.

The value of imports of some commodities decreased during September 2021 compared to the same month of the previous year, such as: wheat by 30.0 percent, passenger cars by 22.3 percent, soybeans by 21.1 percent, and telephone equipment for individuals by 40.3 percent.