Egypt sees a 34 billion EGP spike in imports in May

The total value of imports increase from 23.52 billion EGP (U.S. $3.95 billion) to 34.08 billion EGP (U.S. $5.72 billion), an increase of 44.9 percent during May 2011, according to the Central Agency for Public Mobilization and Statistics.

Wheat imports were at their highest levels, from 525.6 million EGP (U.S. $88.12 million) to 2.2 billion EGP (U.S. $369.1 million), and increase of 318.1 percent.

The value of core goods increased significantly, according to the Agency, with iron ore rising from 187.7 million EGP (U.S. $31.5 million) to 998.2 million EGP (U.S. $167.5 million), a 431.8 percent increase. Animal and vegetable fats and oils spiked from 376 million EGP (U.S. $63.1 million) to 1.14 billion EGP (U.S. $191.3 million), a 202.8 percent increase.

Corn imports shot up from 377.4 million EGP (U.S. $63.3 million) to 1.03 billion EGP (U.S. $172.8 million), a 171.9 percent increase, and plastic imports increased from 463.2 million (U.S. $77.6 million) to 1.18 billion EGP (U.S. $198 million), a 155.7 percent increase. Organic and inorganic chemical imports shot from 429.4 million EGP (U.S. $72 million) to 918.1 million EGP (U.S. $154 million), a 113.8 percent increase.

Crude oil imports shot up 92.8 percent, an increase from 588.2 million EGP (U.S. $98.7 million) to 1.13 billion EGP (U.S. $189.6 million) and raw iron and steel imports increased from 1.01 billion EGP (U.S. $169 billion) to 1.63 billion (U.S. $273.5 million), a 59.8 percent increase.

Some imports however decreased, including furniture that went from 97.7 million EGP (U.S. $16.4 million) to 44.4 million EGP (U.S. $7.45 million), a 54.6 percent decrease. Tobacco imports also fell, from 141.4 million EGP (U.S. $23.72 million) to 69.1 million EGP (U.S. $11.6 million), a 51.1 percent drop.

Imported steel and iron pipes, tubes and fittings also decreased, going from 892.9 million EGP (U.S. $149.8 million) to 650.2 million EGP (U.S. $109.1 million), a 27.2 percent decline while imports of shoes also fell, decreasing from 121.5 million EGP (U.S. $20.4 million) to 58.9 million EGP (U.S. $9.9 million), a 51.5 percent decrease.