The deficit in Egypt’s trade balance reached $4.21bn last July, compared to $5.18bn in the same month last year, a decrease of 18.9%, according to the Central Agency for Public Mobilisation (CAPMAS).
The CAPMAS added in its monthly bulletin of “Foreign Trade Data,” that the exports value decreased by 5.7%, dropping to $2.22bn in July 2019, down from $2.35bn during the same month of the previous year.
The CAPMAS attributed this decrease to the decreased value of some commodities including crude oil by 9.3%, petroleum products by 32.6 %, fertilizers by 15.5 %, and furniture by22.6%.
On the other hand, “exports value of some commodities increased in July 2019, versus the same month of the previous year, including ready-made clothes by 9.7%, plastics in primary forms by 21.4%, pastries and various food preparation by 8.1%, in addition to fresh fruits by 31.5%,” the CAPMAS revealed.
It also showed that import value recorded $6.42bn in July 2019, down from $7.53bn in July 2018, a decrease of 14.8%.
The CAPMAS attributed the decrease in the value of imports to the decreased value of some
commodities such as petroleum products by 24.6 %, raw materials of iron or steel by 37.2 %, plastics in primary forms by 6.2 %, and cars by 10.0 %.
It also revealed that the imports of some commodities increased in July 2019, versus the same month the previous year such as meat by 153.5%, corn by 10.8%, soybeans by 19.9%, and individual telephone sets by 23.6%.