Egypt’s trade deficit falls to $2.68b in April ’24 – CAPMAS

Egypt’s trade deficit declined to $2.68 billion in April 2024, compared to $2.75 billion in the same month of the previous year, marking a 2.5 per cent decrease driven by changes in both export and import activities.

Exports increased by 0.8 per cent, amounting to $3.29 billion in April 2024, compared to $3.26 billion in April 2023.

This rise was driven by significant increases in the value of certain goods, including petroleum products, up by 16.3 per cent, ready-made garments, up by 31.4 per cent, food pastes and preparations, up by 45 per cent, and pharmaceuticals, up by 64 per cent.

However, the value of some exported goods decreased, including fresh fruits, down by 6 per cent, fertilisers, down by 35.6 per cent, plastics in their primary forms, down by 4 per cent, and crude oil, down by 67.6 per cent.

Imports decreased by 0.7 per cent, totaling $5.97 billion in April 2024, compared to $6.01 billion in April 2023.

This decline was due to reduced import values of certain goods, including plastics in their primary forms, down by 11.4 per cent, organic and inorganic chemicals, down by 17.4 per cent, pharmaceuticals, down by 9.4 per cent, and corn, down by 33.1 per cent.

Despite this overall decline, the value of some imports increased, including petroleum products, up by 32.5 per cent, wheat, up by 45.2 per cent, raw materials of iron or steel, up by 28.6 per cent, and natural gas, up by 30.7 per cent.

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