Egypt's Trade Deficit Drops 23.2% in July

The Central Agency for Public Mobilization and Statistics (CAPMAS) issued its Monthly bulletin of "Foreign Trade Data" for July. The report shows the deficit value of the trade balance reached 2.93 billion dollars during July 2023, versus 3.82 billion dollars for the same month of the previous year, a decrease of 23.2%.

The most important indicator is as follows.

• Exports:

Exports value decreased by 10.9% as it reached 3.10 billion dollars during July 2023, versus 3.47 billion dollars for the same month of the previous year, due to a decreased value of some commodities such as:

(Fertilisers by 37.0% Petroleum products by 70.7%,، Natural and liquefied gas by 94.8%, and Furniture by 46.7%,). 

While exports value of some commodities increased during July 2023, versus the same month of the previous year such as (Crude Oil by 6.1%, Ready-made clothes by 4.8%, plastics in their primary forms by 4.8%, Miscellaneous Edible Preparations by 36.4%).

• Imports:

Imports value decreased by 17.3% as it reached 6.03 billion dollars during July 2023, versus 7.29 billion dollars for the same month of the previous year, due to a decreased value of some commodities such as:

(Petroleum products by 16.0%, Raw materials of iron or steel by 13.5%, plastics in their primary forms by 44.6%, Chemicals, Organic & Non-organic by 29.0%).

Imports of some commodities increased in July 2023, versus the same month of the previous year such as : (Medicaments and Pharmctcl. Goods by 22.1%, Wheat by 154.2%, Motor Vehicles by 137.2%, Natural gas by 52.6%).