CAPMAS: Egypt’s trade deficit declined 40.5 % year-on-year in December

CAIRO – 5 March 2017: Egypt’s trade deficit balance reached $2.38 billion in December 2016 compared to $4 billion in December 2015, recording 40.5 percent decline, the Central Agency of Public Mobilization and Statistics announced Sunday in its monthly statement about foreign commerce.


Exports decreased by 1.3 percent, recording $2.01 billion in December 2016 compared to $2.04 billion in 2015, the report added. CAPMAS attributed this decline to the decrease of the value of Egyptian exports, particularly oil by 29.3 percent, fertilizer by 15.8 percent, oranges by 8 percent and clothing by 7.1 percent.


According to the statement, export receipts of medications increased by 12.1 percent, furniture by 8.5 percent, food by 6.6 percent and fresh fruit by 5 percent. Meanwhile, import receipts declined by 27.3 percent, reaching $4.39 billion in December 2016 compared to $6.03 in 2015.