Egypt’s trade balance deficit amounted to $4.40 billion in September 2024, compared to $3.58 billion in the same month of 2023, reflecting a 22.8% increase, according to the latest data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
The value of exports rose by 10.2%, reaching $3.46 billion in September 2024, compared to $3.14 billion in September 2023.
This growth was driven by significant increases in the export values of certain products, including petroleum products increased by 146.5%, ready-made garments by 28.7%, primary forms of plastics by 42.1%, and pasta and other food preparations by 11.1%.
However, some exports witnessed a decline, such as crude oil decreased by 66.0%, fertilizers by 40.2%, fresh fruits by 8.8%, and iron and steel bars, rods, and wires by 14.0%.
Imports increased by 16.9%, reaching $7.86 billion in September 2024, compared to $6.72 billion in the same month of the previous year.
The rise was primarily due to higher import values of petroleum products rose by 33.9%, natural gas by 138.6%, primary forms of plastics by 20.1%, and pharmaceutical products by 1.7%.
Conversely, imports of several items decreased, including wheat by 22.3%, raw iron or steel materials by 19.1%, passenger cars by 25.2%, and corn by 25.9%.