Egypt trade deficit jumps by 13% in December to $4.1 bln

In its monthly bulletin on foreign trade, CAPMAS data indicated that the value of Egyptian exports rose by 9.6 percent in December, reaching $3.96 billion, compared to $3.61 billion in the same month of the previous year. CAPMAS attributed this rise to the increased value of exports for certain goods, notably petroleum products (up 128.5 percent), fresh fruits (up 23.4 percent), ready-made clothing (up 17.6 percent), and various food preparations (up 37.1 percent).

However, the data showed that the value of some exports decreased in December 2024 compared to the same month of the previous year, particularly: fertilizers (down 47.6 percent), crude oil (down 66.2 percent), dry legumes (down 3.5 percent), and furniture (down 6 percent).

Meanwhile, the value of Egyptian imports increased by 11.3 percent, amounting to $8.11 billion in December 2024, compared to $7.28 billion in December 2023. 

CAPMAS credited this improvement to the increased value of imports for certain goods, including; natural gas (up 105.2 percent), passenger cars (up 17 percent), corn (up 38.6 percent), and primary plastic materials (up 15.8 percent).

The value of some imports fell in December 2024 compared to the same month of the previous year, notably petroleum products (down 23.6 percent), raw materials of iron or steel (down 12.9 percent), medicines and pharmaceutical preparations (down 22.3 percent), and wheat (down 14.9 percent).