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Egypt’s trade balance deficit drops 14.6% in July | CAPMAS

The value of exports climbed by 31.5% year-on-year (YoY) to $2.94 billion from $2.24 billion in July 2020

By: Business Today Egypt

Tue, Oct. 12, 2021

Egypt’s trade balance deficit fell by 14.6%, recording $2.88 billion in July 2021, compared to July 2020’s $3.37 billion, announced the Central Agency for Public Mobilization and Statistics (CAPMAS) in its latest data report.

Egypt’s trade deficit fell by 27.8% in June 2021, recording $2.94 billion compared to $4.07 billion in June 2020 wrote CAPMAS in their previous report.

The value of exports climbed by 31.5% year-on-year (YoY) to $2.94 billion from $2.24 billion in July 2020.

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Certain exports saw an increase in value in July, including raw plastic materials by 58.0%, pastries and meal preparations by 51.5%, ready-made garments by 23.3%, and fertilizers by 17.7%.

Declines in commodities value included fresh fruits by 5.8%, medicines and pharmaceuticals by 7.2%, and soap and detergents by 1.0%.

Related > Egypt exported 23% of Africa’s petrochemical and fertilizer imports in 2020

Egyptian imports value increased by 3.8% to $5.82 billion in July, compared to $5.61 billion in July 2020.

Import value of passenger cars grew by 41.0%, medicines and pharmaceuticals by 34.2%, raw plastic materials by 14.6%, and maize by 3.2%.

Drops in import value included crude petroleum by 14.3%, organic and inorganic chemical materials by 22.5%, soybeans by 36.7%, and meat by 35.3%.