According to its monthly trade data bulletin, CAPMAS attributed the decrease of the trade deficit to the increase of the exports by 36.6%
Egypt’s trade balance deficit fell 22.5% in September 2021, recording $2.39 billion, compared to $3.08 billion in the same month of 2020, revealed Central Agency for Public Mobilization and Statistics (CAPMAS).
According to its monthly trade data bulletin, CAPMAS attributed the decrease of the trade deficit to the increase of the exports by 36.6%, which recorded $3.45 billion in September 2021, compared to $2.53 billion in September 2020.
Imports also climbed in September 2021 by 8.2% to reach $5.84 billion, up from $5.61 billion in September 2020.
The increase in exports was credited to export growth in commodities such as fertilizers (90.2%), Iron rods and wires (57%), food preparation items (31.5%), and ready-made garments (22.6%).
Egyptian exports jumped by 40% in the first 9 months of 2021, recording $29.7 billion in the January-September months of 2021, while non-petroleum exports jumped by 26% year-on-year (YoY), reaching $26.9 billion during the first 10 months of 2021.
Some commodities saw drops in exports value in September 2021, including refined sugar by 60.3%, furniture by 39.0%, dairy products by 7.4%, and cotton by 3.1%.
CAPMAS attributed the climb in import values to the increase of imported plastics (in primary form) by 24.2%, crude oil by 53.2%, medicines and pharmaceutical preparations by 33.9%, and raw materials of iron or steel by 8.2%.
Imported commodities that saw decline were mobile phones and accessories by 40.3%, wheat by 30.0%, and passenger cars by 22.3%.