Trade balance deficit dropped 52% in April: CAPMAS

Daily News Egypt
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The trade balance deficit in April decreased to $1.92bn, down from $3.99bn in April 2016, marking a drop of 52%, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

The agency stated in its monthly bulletin issued on Monday on the foreign trade statistics that the value of Egyptian exports climbed in April 2017 by 8.5% to reach $2.05bn, up from $1.89bn in April 2016.

It attributed the increase to the hiking value of some exports, including crude oil by 38.8%, fertilisers by 35.1%, potatoes by 63.1%, and soap and detergents by 120%.

Meanwhile, the value of some exports declined in April 2017 compared to April 2016, including garments by 3.1%, fresh oranges by 5.7%, food commodities by 1.7%, and plastic by 4.4%.

CAPMAS noted that the value of imports decreased by 32.6% as it reached $3.97bn during April 2017, versus $5.88bn for the same month of the previous year, due to the decrease of value of some commodities, such as wheat by 6.2%, plastic by 21.3%, medications and pharmaceuticals by 8.5%, and primary forms of iron or steel by 51.3%.

Yet, imports of some commodities increased in April 2017 versus April 2016, such as crude oil by 18.7%, petroleum products by 43.5%, pipes, iron, and steel equipment by 88%, and soybean by 52.4%.

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