Egypt’s Imports In Q1 of 2013 Reached EGP92 bln

“Amwal Al Ghad” has gotten some official data from the Foreign Trade sector reveal that the total volume of the Egyptian imports during the first quarter of 2013 amounted to EGP 92 billion approximately.

The data also unveiled that the volume of Egypt’s imports went down during that period in comparison with the same period in 2012, recording EGP 103 billion, due to the currency devaluation and decreasing the demand on the domestic products, in addition to some precautionary measures that had been taken by the Ministry of Industry and Foreign Trade to decrease the rates of import after the dollar crisis started.

It is expected that the deficit in Egypt’s balance of trade during the first quarter of 2013 witnesses decline in the general value on account of climbing the export rates during that period.

The engineering industries sector is one of the most sectors that imported at that period, about EGP 30 billion, followed by the chemical and fertilizers sector, building materials sector, food industries sector, and the agricultural sector, according to the data.