Egypt’s trade deficit drops 28.7% YoY in July

Egypt’s trade balance deficit slipped by 28.7% to $2.7 billion in July 2022, versus $3.8 billion in the same month of 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release on October 11th.

The value of Egyptian exports increased by 2.2% year-on-year (YoY) to $3.13 billion in July 2022 from $3.07 billion, the CAPMAS added.

The agency attributed this growth in exports to higher values of some goods, including petroleum products by 89.4%, fertilizers by 6.7%, plastics in primary forms by 3.4%, and fresh fruits by 11.4%.

On the other hand, the value of some exports dropped in July, topped by crude oil and ready-made clothing that fell by 30.5% and 0.1%, respectively.

Meanwhile, the value of Egypt’s imports amounted to $5.81 billion last July, declining by 14.8% from $6.82 billion in the corresponding month of 2021.