Cairo – Mubasher: Egypt’s balance of trade deficit retreated by 29.4% to $2.7 billion in February from $3.82 billion in the same month a year earlier, according to the data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Exports

The value of exports surged by 41% year-on-year (YoY) to $4.12 billion in February, compared to $2.92 billion.  

The exports of potatoes, ready-made garments, and fertilisers rose by 56.8%, 19.5%, and 11.6%, respectively.

Meanwhile, the exports of dairy products declined by 6% and oranges by 31%.

Imports

The country's import value grew by 1.2% YoY to $6.82 billion in February, compared to $6.74 billion.

The imports of petroleum products hiked by 81.3%, raw materials of iron or steel by 61.7%, and organic and inorganic chemicals by 33.7%.

On the other hand, the imports of wheat fell by 48.4% and medicines and pharmaceutical preparations by 11%.