CAPMAS attributed the export increase primarily on the rise of medicines and pharmaceutical preparations by 77.2%
Egypt’ trade deficit decreased last April, declining 13.3% to reach $3.1 billion compared to April 2020’s $3.5 billion, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The value of exports climbed 47.4% in April, recording at $2.84 billion, compared to $1.93 billion in April 2020, while the value of imports increased 8.1% to reach $5.9 billion, compared to $5.47 billion last year.
CAPMAS attributed the export increase primarily on the rise of medicines and pharmaceutical preparations by 77.2%, fresh fruits by 60.2%, pasta and various food preparations by 12%.
The value of exports of some commodities decreased during April, mainly fertilizers by 29.9%, flat-rolled products of iron or steel by 10.9%, potatoes by 37.2%, refined sugar by 39.7%.
The top increases in their value of imports came from passenger cars by 58.9%, iron ores and concentrates by 58.6%, and plastics in their primary forms by 27.2%.
Raw materials of iron and steel dropped by 4.4%, wheat by 7.4%, medicines and pharmaceutical preparations by 6.3%, organic and inorganic chemicals by 6.3%.
Egypt’s non-oil product trade deficit continued its incline, according to the Ministry of Finance last week, seeing a 12.7% increase year-on-year, adding $3.7 billion, closing on $30.7 billion during the first 9 months of 2021.
Egypt’s Purchasing Managers’ Index (PMI) peaked last week at 49.9 in June, only a sliver away from hitting the 50.0 neutral threshold, hitting its highest level since November 2020.
