Trade balance deficit fell 13% in July 2016- Egypt’s CAPMAS

The deficit in Egyptian trade balance dropped by 13.1 percent in July 2016 to 30.9 billion Egyptian pounds (US$3.3 billion) from 35.6 billion pounds a year earlier.

The monthly bulletin of Egyptian main statistics body Central Agency For Public Mobilization And Statistics (CAPMAS) stated that the volume of foreign trade fell by 1 percent to 61.7 billion in July 2016 versus 62.3 billion pounds in July 2015.

In July 2016, Egypt’s exports rose by 15.5 percent to 15.4 billion pounds opposed to 13.3 billion pounds at the same month of 2015, the CAPMAS stated.

According to the bulletin, some commodities witnessed an increase in its exports volume such as Crude oil (33.1 percent), apparel (3.9 percent), fertilizers (212.3 percent), and variety of  Slurries and food preparations (6.4 percent).

On other side, the total volume of Egypt’s imports edged down by 5.3 percent in July 2016 to 46.8 billion pounds compared to 49 billion pounds in July 2016.

According to the bulletin, some commodities witnessed a decline in its imports volume such as raw materials of iron or steel (16.7 percent), primary plastics “plastics in primary forms ” (14.2 percent), cars ride (35.3 percent), medications and preparations pharmacy (1.7 percent).