The value of the trade balance deficit in March amounted to EGP 19.9bn, compared to EGP 35.7bn in March 2015, a decline of 44.4%, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS).
In its monthly bulletin on foreign trade issued on Tuesday, CAPMAS said the value of Egyptian exports increased by 11.7% in March, registering EGP 17.6bn, compared to EGP 15.8bn in March 2015.
CAPMAS attributed this increase of exports to the increase in the value of the imports of some goods. Notable exports include petroleum products, which saw exports increased by 25.1%, fresh oranges by 25.8%, potatoes by 16.8%, and fertilisers by 158.4%.
The exports of some goods decreased in March compared to March 2015, some of the most important being crude oil, which saw exports decline by 8.3%, readymade clothes by 14.5%, plain plastic by 18.8%, and carpets by 14.6%, according to CAPMAS.
As for Egypt’s import of goods, CAPMAS noted that their value decreased by 27.2%, registering EGP 37.5bn in March compared to EGP 51.5bn in March 2015.
CAPMAS stated that the decline in the value of imports was caused by the decline in the value of the imports of some goods such as petroleum products, which had imports decline by 22.2% and passenger cars by 21.9%.
On the other hand, CAPMAS said the value of the imports of some goods increased in March compared to March 2015, such as refined oils by 944.8% and phone devices for individuals by 1.7%.