Egypt's trade deficit decreases 38.5% during November

CAIRO - 7 January 2023: Egypt's trade balance deficit decreased 38.5 percent during November on an annual basis, to record $2.15 billion, compared to $3.50 billion during the same month of the previous year, according to the state's statistics agency (CAPMAS).

 

In its monthly bulletin on foreign trade data, the CAPMAS revealed that the exports declined 17.8 percent during November 2022, to hit $3.79 billion, compared to $4.61 billion during the same months of earlier year.

 

The most important commodities whose export value decreased were natural and liquefied gas by 13.3 percent, crude oil by 15.6 percent, fertilizers by 13.3 percent, and petroleum products by 36.8 percent.

 

On the other hand, the value of exports of some commodities increased during November, the most important of which are ready-made clothes by 17.2 percent, various dough and food preparations by 18.7 percent, fresh fruits by 72.6 percent, and bars, sticks and angles of iron wires by 143.5 percent.

 

Meanwhile, Egypt’s imports dipped during November 2022 by 26.8 percent, to reach $5.94 billion, down from $8.11 billion during November 2021.

 

The CAPMAS attributed the decline of imports to the decrease of some commodities, the most important of which are: crude petroleum by 9.6 percent, medicines and pharmaceuticals by 29.6 percent, plastics in their primary forms by 47.0 percent, raw materials of iron or steel by 40.3 percent.

 

While the value of imports of some commodities increased during November, including: wheat by 10.2 percent, petroleum products by 51.2 percent, natural gas by 134.2 percent, and pipes, pipes and their fittings of iron or steel by 58.6 percent.