The value of the trade balance deficit summed up to $2.69 billion during March 2021, compared to $3.59 billion in the same month of the previous year
Egypt’s trade deficit saw a decline of 25.2 percent in March 2021, states the Central Agency for Public Mobilization and Statistics (CAPMAS) in its monthly report.
The value of the trade balance deficit summed up to $2.69 billion during March 2021, compared to $3.59 billion in the same month of the previous year.
The value of exports climbed by 43.5 percent, recording at $3.41 billion in March, compared to $2.38 billion for the same month last year.
CAPMAS attributed this to the increase in the value of exports of some commodities, including medicines and pharmaceutical products which rose by 54.2 percent, and ready-to-wear apparel by 49.3 percent.
Total value of non-oil merchandise exports increased by around $7.4 billion, compared to $7 billion in Q1 2020, an increase of 6 percent, according to Minister of Planning and Economic Development, Hala El-Said last week.
Other export commodities that raised in value were various pasta and food preparations by 18.4 percent, and Potato exports by 1.1 percent.
Certain commodities did see declines in value during March, including oranges which dropped by 72.4 percent, other fresh fruits by 71.4 percent, fertilizers by 40.5 percent, and dairy products by 1.7 percent.
The value of imports increased by 2.2 percent, recording $6.10 billion during March, compared to $5.97 billion in March 2020.
This is due to the increase in the value of imports of some commodities, said CAPMAS, including petroleum products by 92.5 percent, passenger cars by 73.9 percent, and medicines and pharmaceutical preparations by 9.7 percent.
Import value of some commodities decreased as well, including wheat by 48.5 percent, raw materials of iron or steel by 25.9 percent, crude oil by 20.8 percent, and meat by 7.4 percent.
