CAPMAS: Egypt's Trade Deficit Drops 5.9%

Central Agency for Public Mobilization and Statistics (CAPMAS) said that the value of the deficit in the balance of trade (BoD) decreased during the past year compared to its predecessor by 5.9%, explaining that the deficit amounted to $42.8 billion in 2022 compared to $45.5 billion, year-on-year.

CAPMAS added that the value of the trade balance deficit reached $41.1 billion in 2020, while it recorded $45.9 billion in 2019, while it reached $52.6 billion in 2018.

It indicated that Egyptian exports amounted to $51.646 billion in 2022, while Egyptian imports recorded $94.460 billion during the same year.

In a related context, the Central Bureau of Statistics pointed out that the value of the deficit in the trade balance amounted to $1.93 billion during the month of December, while it reached $4.20 billion for the same month of 2021, with a decrease of 54%.

He stated that the value of exports declined during last December, compared to the same month of 2021, by 2.7%, pointing out that exports amounted to $4.18 billion during last December, compared to $4.29 billion for the same month of 2021, and this is due to the decrease in the value of exports of some commodities. The most important of which are ready-made clothes by 4.8%, petroleum products by 41.2%, crude oil by 45.1%, and plastics in their primary forms by 31.4%).

It pointed out that the value of exports of some commodities increased during last December compared to those for the same month of 2021, the most important of which are natural and liquefied gas by 47.3%, fresh fruits by 25.7%, fertilizers by 83.3%, and various doughs and food preparations by 22.9%.

The agnecy stated that the value of Egyptian imports decreased last December compared to the same month of 2021 by 28%, indicating that the value of imports amounted to $6.11 billion during December 2022, while it recorded $8.49 billion for the same month of 2021. This is due to the decrease in the value of imports of some commodities, the most important of which are petroleum products by 7.2%, medicines and pharmaceuticals by 16.2%, plastics in their primary forms by 48.8%, and wheat by 28.4%.

Finally, the imports of some commodities increased in December 2022 compared to the same month of 2021, the most important of which is natural gas by 82.5%, wood and its articles by 8.5%, pipes, pipes and their fittings of iron or steel by 16.2%, and seeds and seeds by 9.3%.