According to CAPMAS, during December 2023, value of Egypt’s exports decreased by 23.0%, to reach $3.48 billion, compared to $4.52 billion for the same month of 2022.
Egypt’s trade balance deficit increased by 17.8% in December 2023, to reach $3.03 billion, compared to $2.57 billion in December 2022, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
According to CAPMAS, during December 2023, value of Egypt’s exports decreased by 23.0%, to reach $3.48 billion, compared to $4.52 billion for the same month of 2022.
This decline in exports came due to the decrease in the value of exports of some commodities such as petroleum products by 46%, natural gas and liquefied gas by 88.1%, and plastics by 35.5%.
However, the value of exports of some goods increased during December 2023, such as ready-made clothes increased by 24.9%, fresh fruits by 3.6%, and raw petroleum by 60.2%.
In December 2023, volume imports also witnessed a decline of 8.2%, reaching $6.5 billion, compared to $7.09 billion for the same month of the previous year.
This is attributed to reduction in the value of exports of certain commodities like organic and inorganic chemicals decreased by 8.2%, and primary plastics saw a decline of 17.2%.
On the other hand, the import value of several other commodities rose in December 2023. This increase included petroleum products grew by 24.7%, raw iron or steel by 80.2%, pharmaceuticals by 5.8%, and wheat by 20.7%.
