Egypt’s trade balance deficit decreases 35.8% in May – CAPMAS

Egypt’s trade balance deficit fell 35.8% year-on-year to reach $2.61 billion from 4.06 billion in the same month last year, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported on Wednesday.

The value of exports increased by 18.3 percent, reaching $4.01 billion during May 2022, compared to $3.39 billion for the same month in the previous year, CAPMAS’s data showed.

Some of commodities contribute to increase the value of export, including oil, natural, and liquefied gas products that hiked by 44.1 percent, as well as the crude oil soared by 30.7 percent.

The fertilizers products also increased by 33.9 percent and ready-made garments rose by 48.1 percent.

Moreover, the data showed that imports’ value decreased by 11.1 percent, reaching 6.62 billion dollars during May 2022, compared to 7.45 billion dollars in the same month of the previous year.

This due to the decrease in the in the value of imports of some goods as crude oil dropped by 9.2 percent, petroleum products decreased by 24.2 percent.

In addition to that the medicines and pharmaceutical preparations stooped by 17.4 percent.