Egypt's Trade Deficit Drops 53% to $1.7 Billion

The value of Egypt's trade deficit decreased to $1.7 billion during April 2022, compared to $3.62 billion for the same month in the previous year, a decrease of 53%.

The Central Agency for Public Mobilization and Statistics (CAPMAS) stated that the value of Egypt’s exports increased by 54.2%, to reach $4.94 billion during April 2022, compared to $3.2 billion for the same month the previous year, due to the increase in the value of exports of some commodities, the most important of which (petroleum products by 204.3%, crude oil 14.8%, ready-made garments 34.7%, fertilizers 10.3%).

The value of some commodities’ exports decreased during April 2022 compared to the same month of the previous year, the most important of which was (fresh fruits by 15.4%, pasta and food preparations by 20.5%, carpets and kilims by 12%, soap and cleaning preparations by 1.2%).

The agency pointed out that the value of Egypt's imports decreased by 2.7% to reach $6.64 billion during April 2022, compared to $6.82 billion for the same month in the previous year, due to the decrease in the value of imports of some commodities, the most important of which are petroleum products by 44.6%, wheat by 30%, medicines and pharmaceutical preparations by 20.3%, organic and inorganic chemicals by 4.6%.

The value of imports of some commodities increased during April, year-on-year, the most important of which is crude oil by 499.1%, raw materials of iron or steel by 55.2%, soybeans by 19.6%, and plastics in its primary forms by 2.8%.