Egypt: 16.6% Decrease in Trade Balance Deficit in October 2023

Central Agency for Public Mobilization and Statistics (CAPMAS) issued its monthly bulletin of “Foreign Trade Data” for October 2023.

The deficit value of trade Balance reached 3.15 billion dollars during October 2023, versus 3.78 billion dollars for the same month of the previous year, a decrease of 16.6%.

The most important indicator is as follows:

Exports value decreased by 19.2% as it reached 3.23 billion dollars during October 2023, versus 4.00 billion dollars for the same month of the previous year, due to a decreased value of some commodities such as: (Petroleum products by 43.6%, Plastics in their primary forms by 21.4%, Fresh fruits by 0.1%, Natural, and liquefied gas by 95.8%).

The export value of some commodities increased during October 2023, versus the same month of the previous year such as (Crude petroleum by 61.7%, Ready-made clothing by 14.2%, Pasta and various food preparations by 17.3%, Iron bars, sticks, angles, and wires by 1.2%).

Imports value decreased by 18.0% as it reached 6.38 billion dollars during October 2023, versus 7.78 billion dollars for the same month of the previous year, due to a decreased value of some commodities such as: (Petroleum products by 13.8%, Medicines and pharmaceutical preparations by 15.2%, Plastics in their primary forms by 26.7%, and Corn by 17.9%).

Imports of some commodities increased in October 2023, versus the same month of the previous year such as : (Raw materials of iron or steel by 46.3%, Passenger cars by 139.6%, Copper and its products by 54.3%, Iron ores and concentrates by 32.8%).