Egypt’s trade balance deficit hikes to 23.8% in April

Egypt’s Central Agency for Public Mobilisation and Statistics (CAPMAS) revealed that the trade balance deficit rose by 23.8 percent to $2.33 billion in April, compared with $1.89 billion in the same month last year, according to its data on Tuesday.

The Egyptian exports fell 44.9 percent in April to about $3 billion compared with $5.5 billion in the same month last year, as exports of some goods, including liquefied natural gas, raw petroleum, fresh fruits and ready-to-wear, declined.

The total imports fell 27.4 percent to $5.36 billion in April compared with $7.3 billion due to lower imports of some goods, including wheat, chemicals, iron, steel and plastics, the statement mentioned.