Cairo – Mubasher: Egypt's balance of trade deficit narrowed by 14.6% to $2.88 billion in July, compared to $3.37 billion in the same month a year earlier, data by the Central Agency for Public Mobilization and Statistics (CAPMAS) showed on Tuesday.

Exports

The country's exports hiked by 31.5% year-on-year (YoY) to $2.94 billion from $2.24 billion in July 2020 as exports of raw plastic materials rose by 58.0%, pastries and meal preparations by 51.5%, ready-made garments by 23.3%, and fertilisers by 17.7%.

On the other hand, exports of fresh fruits declined by 5.8%, medicines and pharmaceuticals by 7.2%, and soap and detergents by 1.0%. 

Imports

Imports of the most populous Arab nation increased by 3.8% to $5.82 billion in July, compared to $5.61 billion in the same month in 2020. 

The country's imports of passenger cars grew by 41.0%, medicines and pharmaceuticals by 34.2%, raw plastic materials by 14.6%, and maize by 3.2%.

Meanwhile, imports of crude petroleum fell by 14.3%, organic and inorganic chemical materials by 22.5%, soybeans by 36.7%, and meat by 35.3%.