CBE: non-petroleum trade balance deficit boosts to $6.5 billion in 6 months

The Central Bank of Egypt (CBE) has revealed an improvement in the non-petroleum trade balance deficit of about $6.5 billion to be limited to about $17.3 billion from July to December 2022.

The figures are compared to about $23.8 billion during the same period in 2021, the CBE also reviewed this as a result of a $6.3 billion decline in payments for non-petroleum commodity imports.

The balance of payments report indicated a decrease in payments for non-oil commodity imports at a rate of 17.3 percent, to be limited to about $30.2 billion compared to about $36.5 billion.

While, the non-petroleum commodity exports rose by $124.8 million to $12.9 billion against about $12.8 billion. The increase was concentrated in gold, phosphate or metal fertilisers and radio or television transmitters.

The petroleum trade balance achieved a surplus of about $1.8 billion against about $2.1 billion from an increase in petroleum exports of $690.6 million to an increase in exports from gas of about $2 billion.