Trade balance deficit drops 16pct to $2.6bn- Egypt’s CAPMAS

The deficit in Egyptian trade balance declined by 26 percent in April 2016 to 23.9 billion Egyptian pounds (US$2.6 billion) from 32.3 billion pounds in April 2015.

According to the monthly statistics of foreign trade that released by Central Agency for Public Mobilization and Statistics (CAPMAS) Monday, the volume of Egypt’s foreign trade decreased in April 2016 to 57.1 billion pounds versus 61.3 billion a year earlier.
State’s exports volume rose by 14.1 percent as it reached 16.6 billion pounds in April 2016 compared to 14.5 billion in April 2015.

The statistics showed that this increase was due to the hike in exports value of some products notably; oil products ( 1.4 percent), fresh orange (29.4 percent), and fertilizers (524.8 percent).

On other side, the statistics noted that the volume of Egyptian imports sagged by 13.5 percent, recording 40.5 billion pounds in April 2016 opposed to 46.8 billion pounds at the same month of 2015.

This decline was due to the drop in imports value of some products notably; oil products (5.3 percent), primary materials of steel and iron (5.7 percent), automotives (3.7 percent), and plastics (7.7 percent).