Cairo – Mubasher: The trade balance value of Egypt witnessed a deficit amounting to $3.14 billion in September 2023, which marked a 10.3% annual increase from $2.84 billion, according to the monthly data by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Exports

The Arab Republic exported goods valued at $2.94 billion in September this year, which was less by 33.7% than $4.44 billion in September 2022.

CAPMAS attributed the decrease in Egypt’s export value in September to a decline in the value of some commodities, including petroleum products and fertilizers which plunged by 68.2% and 65.9%, respectively.

This was in addition to a drop in the value of ready-made clothes by 11.1% and plastics in their primary forms by 36.5%.  

On the other hand, the export value of some commodities increased in September, including iron rods, bars, angles, and wires by 157.2%, crude oil by 81.3%, and miscellaneous edible preparations by 32.4%.

Furthermore, the value of exported carpets and keleem rugs rose by 42%.

Imports

The statistics authority revealed that Egypt imported goods in September for a total value of $6.08 billion which signalled a 16.5% decrease from $7.28 billion in the same month of 2022.

The annual plunge in the value of imports to Egypt resulted from a decrease in the value of some commodities like plastics in their primary forms by 39.1%, as well as chemicals, organic and non-organic goods by 38%. This is in addition to an 8.8% lower value of wheat imports.

Meanwhile, the import value of motor vehicles surged by 156.6%, while the liquefied natural gas (LNG) imports to Egypt soared by 27.2%.

The country also imported more petroleum products by 14.9% in September 2023 when compared to the same month a year earlier, while primary forms of iron or steel imports grew by 27%.

CAPMAS recently unveiled that the bilateral trade value between Egypt and Cyprus increased by 21.8% to $79 million in the first nine months (9M) of 2023 from $64.80 million in 9M-22.