Egypt’s trade deficit falls 10.3% YoY in May – CAPMAS

Egypt’s trade deficit decreased to $3.57 billion in May, marking a 10.3 per cent drop from the same period in 2023, as reported by the Central Agency for Public Mobilisation and Statistics (CAPMAS).

The country’s exports edged up 0.4 per cent to $3.81 billion, driven by increased shipments of agricultural products such as fresh fruits, whose exports rose 17.4 per cent.

However, exports of some commodities decreased compared to the same month last year: crude petroleum by 4.3 per cent, petroleum products by 17.4 per cent, fertilisers by 5.2 per cent, and plastic raw materials by 10.5 per cent.

Meanwhile, imports dropped by 5.1 per cent to $7.38 billion, primarily due to reduced purchases of raw materials, intermediate goods, and consumer items. Notably, imports of iron, steel, plastics, pharmaceuticals, and chemicals contracted.

While, imports of certain goods increased compared to the previous year: petroleum products by 86.1 per cent, wheat by 153.6 per cent, natural gas by 39.2 per cent, and vehicles by 15.2 per cent.

Attribution: Central Agency for Public Mobilisation and Statistics (CAPMAS)