Egypt’s trade deficit narrows 5.9% in July – CAPMAS 

Exports increased 2.9 per cent year-on-year to $3.7 billion, driven by higher shipments of petroleum products, ready-made garments, food preparations, and pharmaceuticals, CAPMAS said. Petroleum exports jumped 29.3 per cent , garments 29.1 per cent , food preparations 30.7 per cent, and pharmaceuticals 1.3 per cent.

Meanwhile, exports of plastics in primary forms fell 13.4 per cent, fertilisers 46.4 per cent, fresh fruits 11.4 per cent, and crude oil 49.7 per cent.

Imports slipped 2.4 per cent to $9.0 billion in July from $9.2 billion a year earlier. Purchases of petroleum products rose 34.8 per cent, natural gas 43.8 per cent, passenger cars 55.2 per cent, and maize 48.8 per cent.

Imports of iron and steel raw materials dropped 36.8 per cent, plastics in primary forms 9.0 per cent, organic and inorganic chemicals 26.0 per cent, and wheat 31.1 per cent, the data showed.