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Egypt’s trade deficit declines 53% in April - CAPMAS

Egypt’s trade deficit declines 53% in April - CAPMAS
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Cairo – Mubasher: Egypt’s trade deficit retreated by 53% to $1.70 billion in April 2022 from $3.62 billion in the same month a year earlier, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Exports

Egypt's exports increased by 54.2% to $4.94 billion in April, compared to EGP 3.20 billion in the year-ago period.

The value of exports of petroleum products, crude oil, and ready-made garments rose by 204.3%, 14.8%, and 34.7%, respectively.

Meanwhile, the exports of fresh fruit, rugs and kilim, as well as soap and cleaning products decreased by 15.4%, 12%, and 1.2%, respectively.

Imports

In the meantime, the country's imports amounted to $6.64 billion in April, down from $6.82 billion in the year-ago period.

Egypt reported a decline in the value of some imports, including petroleum products by 44.6%, wheat by 30%, and pharmaceutical products by 20.3%.

Meanwhile, the imports of crude oil, raw materials of iron and steel, and soybean rose by 499.1%, 55.2%, and 19.6%, respectively.