According to CAPMAS, the value of exports decreased by 15.6%, reaching $3.46 billion during January 2024, compared to $4.10 billion during January 2023.
Egypt’s trade balance deficit decreased by 37.2% during January 2024, to reach $2.08 billion, compared to $3.32 billion for the same month of 2023, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
According to CAPMAS, the value of exports decreased by 15.6%, reaching $3.46 billion during January 2024, compared to $4.10 billion during January 2023.
This decline in exports came due to the decrease in the export value of some commodities, such as petroleum products declined by 8.1%, fertilizers by 47.7%, crude oil by 22.1%, and natural and liquefied gas by 87.1%.
However, the value of exports of some goods increased during January 2024, such as fresh fruits increased by 24.9%, ready-made clothes by 35.7%, and plastics by 12.8%.
During January 2024, imports decreased by 25.3%, reaching $5.54 billion, compared to $7.42 billion for the same month of the previous year.
This is attributed to a reduction in the value of imports of certain commodities like Wheat decreased by 41.8%, plastics by 43.6%, medicines and pharmaceutical preparations by 9.9%, and corn by 15.1%.
On the other hand, the import value of several other commodities rose in January 2024. This increase included Petroleum products grew by 60.8%, raw iron or steel by 2.7%, natural gas by 20.9%, and passenger cars by 92.9%.
