Egypt's trade deficit dips to $2.93B in July: CAPMAS

CAIRO - 9 October 2023: Egypt’s trade deficit decreased 23.2 percent to $2.93 billion in July, compared to $3.82 billion in the same month in 2022, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

 

Egypt’s exports declined by 10.9 percent, recording $3.10 billion in July, compared to $3.47 billion in the same month of the previous year, according to the monthly report on external trade data.

 

This is attributed to the decreased value of exports of some commodities, most notably fertilizers by 37 percent, petroleum products by 70.7 percent, natural gas and liquefied gas by 94.8 percent, and furniture by 46.7 percent.

 

The data showed an increase in the value of exports of some commodities in July compared to the same month of the previous year, notably crude oil by 6.1 percent, ready-made garments by 4.8 percent, and primary forms of plastics by 4.8 percent, as well as various food preparations by 36.4 percent.

 

The CAPMAS also indicated a 17.3 percent decrease in the value of imports, which reached $6.03 billion in July 2023, compared to $7.29 billion in the same month of the previous year. This is due to the decreased value of imports of some commodities, including petroleum products by 16 percent, primary forms of iron or steel by 13.5 percent, primary forms of plastics by 44.6 percent, and organic and inorganic chemicals by 29 percent.

 

The data revealed an increase in the value of imports of some commodities in July 2023 compared to the same month of the previous year, including pharmaceuticals and pharmaceutical preparations by 22.1 percent, wheat by 154.2 percent, passenger cars by 137.3 percent, and natural gas by 52.6 percent.