The value of deficit of the trade balance reached $3.5bn during July 2017, versus $4.1bn in July 2016, marking a decline of 14.7%, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS).
The agency said that the value of exports decreased by 17.9% as it reached $1.92bn in July 2017 versus $1.63bn in the same month of the previous year. CAPMAS attributed the increase to the rise in the value of some commodities, such as ready-made garments by 3.8%, fertilisers by 115.8%, fresh fruit by 102.1%, pulp and miscellaneous food preparations by 6.4%, and plastics in primary forms by 13.4%.
Meanwhile, exports of some commodities decreased in July 2017 versus the same month in 2016. This includes crude oil by 35.4%, plastics by 1.4%, soap and detergents by 40.4%, steel or steel rolling products by 29.7%.
The value of imports decreased by 5.4 % as it reached $5.42bn during July 2017, versus $5.73bn in the same month of the previous year due to the decrease of value of some commodities, such as raw materials of iron or steel by 10.4%, organic and inorganic chemicals by 11.1%, meat by 33.5%, and cars by 29.8%.
Moreover, value of imports of some commodities increased in July 2017, such as petroleum products by 1.2%, plastics in primary forms by 15.7%, pharmaceuticals and pharmaceutical preparations by 20.7%, pipes and steel and iron equipment by 95.4%.