Egypt’s trade deficit down 32% in January: CAPMAS

PHOTO

Cairo – Mubasher: Egypt’s trade deficit retreated by 32.3% to $2.44 billion in January 2022 from $3.60 billion in the same month a year earlier, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Exports

Egypt's exports increased by 34.5% to $3.99 billion in January 2022, compared to EGP 2.97 billion in the year-ago period.

Exports of petroleum products, crude oil, and ready-made garments rose by 107%, 66.5%, and 46.8%, respectively.

Meanwhile, the exports of fertilisers, oranges, and furniture decreased by 32.6%, 13.6%, and 8.5%, respectively.

Imports

In the meantime, the country's imports amounted to $6.43 billion in January, down 2.2% from $6.57 billion in the year-ago period.

Egypt reported a decline in some imports, including crude oil by 0.6%, wheat by 42.6%, and corn by 37.1%.

Meanwhile, the imports of petroleum products, raw materials of iron or steel, and medicines and pharmaceutical preparations rose by 27%, 49.4%, and 49.4%, respectively.