Egypt’s foreign trade grows 11.8% in first five months

Egypt’s foreign trade jumped 11.8 percent to $43.301 billion in the first five months of the year, up from $38.729 billion last year, according to the state statics agency CAPMAS.

Egypt’s trade balance deficit rose 10.9 percent to $18.387 billion during the January-May 2018 period from $16.583 billion during the same period in 2017, said CAPMAS latest bulletin released on Thursday.

Exports climbed 12.5 percent to around $12.457 billion, against $11.073 billion.

“Non-petroleum exports surged 15 percent to $11.48 billion, versus $9.975 billion last year,” CAPMAS added.

Petroleum exports fell 2.8 percent to $138 million from $142 million.

Crude oil exports dropped 12.2 percent to $839 million, compared with $956 million.

“Egypt’s imports grew 11.5 percent to about $30.844 billion during the first five months of the current year, versus $27.656 billion during the same period last year,” the bulletin showed.

Non-petroleum imports declined 11 percent to $28.234 billion from $25.441 billion.

Crude oil imports rose 109.5 percent to $1.483 billion, against $708 million. Petroleum products imports slipped 25.2 percent to $1.127 billion from $1.507 billion.