Egypt’s Trade Deficit Trims to EGP19.5bn as Imports, Exports Fall – CAPMAS

Egypt’s trade balance deficit narrowed to EGP 19.5 billion in July, 225.5% down from EGP 25.11 billion recorded in the same month a year ago, said Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) in a report on Monday.

The decrease was due to the decline in export by 12.7%, and 18.8% decrease in imports.

Exports dropped to EGP 13 billion by 12.7% in July, compared to EGP 15 billion a year ago due to the decrease in the value of some goods including oil, crude oil, cloths, in addition to fertilizers, carpets.

Imports narrowed by 18.8% to EGP 32.5 billion, lower than EGP 40 billion a year ago due to the decline in the value of some goods like oil, raw materials, corn, and plastics in primary forms.