CAPMAS: Trade Balance Deficit Decreased by 47% in January 2023

The Central Agency for Public Mobilization and Statistics (CAPMS) issued on Thursday the monthly bulletin of foreign trade data for January 2023.

The bulletin revealed that the value of the trade balance deficit amounted to $2.48 billion during January 2023, compared to $4.68 billion for the same month of the previous year, a decrease of 47.0%.

Among the most important indicators, the value of exports decreased by 7.1%, reaching $3.85 billion in January 2023, compared to $4.15 billion for the same month of the previous year. This is due to the decrease in the value of exports of some commodities, the most important of which include petroleum products which dwindled by 11.9%, ready-made clothes by 5.1%, crude oil by 43.7%, and plastics in their primary forms by 32.4%).

However, the value of exports of some commodities increased during January 2023 compared to the same month of the previous year, the most important of which are (natural and liquefied gas by 4.8%, fresh fruits by 9.6%, fertilizers by 23.0%, dough and various food preparations by 39.9%).

The value of imports decreased by 28.2%, reaching $6.33 billion in January 2023, compared to $8.83 billion for the same month of the previous year. by 20.1%, and crude oil by 15.0%).