Egypt’s trade deficit value widens by 5% in November 2023: CAPMAS

CAIRO - 5 February 2024: The value of Egypt’s trade deficit reaches $3.07 billion in November 2023, in a 5 percent increase compared to $2.92 billion in the same month of the previous year, according to the Central Agency for Public Mobilization and Statistics (CAPMAS) data.

 

CAPMAS also showed that Egypt’s exports decreased by 20.6 percent reaching $3.21 billion during November 2023 compared to $4.04 billion during the same month of the previous year. 

 

CAPMAS attributed this to the decrease in the value of exports of some commodities. These commodities are: ready-made clothes by 4.5 percent, petroleum products by 23.7 percent, crude petroleum 28.6 percent and fertilizers 59.6 percent

 

The value of exports of some goods increased during November 2023 compared to the same month last year, these are: pastries and food preparations by 26.6 percent, fresh fruits by 4.2 percent, iron and steel flat-rolled products by 324.5 percent, carpets and kilims by 12 percent.

 

The value of Egypt’s imports decreased by 9.9 percent to reach $6.28 billion during November 2023, compared to $6.96 billion for the same month of the previous year. CAPMAS states that this is due to a decrease in the value of imports of some goods. These are: wheat by 41.0 percent, plastics in their primary forms by 1.7 percent, corn by 5.0 percent, and soybeans by 14.6 percent.

 

While the value of imports of some goods increased during the month of November 2023 compared to their counterparts for the same month of the year. These are: petroleum products by 19.1 percent, iron or steel raw materials by 53.4 percent, passenger cars by 108.2 percent, and organic & inorganic chemicals by 0.1 percent.