Egypt’s trade deficit narrows by 28.7% in September: CAPMAS

Daily News Egypt
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Egypt’s trade deficit value reached $3.49bn inSeptember 2019, down from $4.90bn during the same month the previous year, making a decline of 28.7%, according to the Central agency for public mobilization and statistics (CAPMAS).

Unfortunately, Egypt’s export value decreased by 2.7% in September, amounting to $2.37 bn during September, down from $ 2.43 bn in September 2018, the CAPMAS added in its monthly bulletin of Foreign Trade Data.

The CAPMAS attributed the decrease in the export value to the decreased value of some

commodities such as fertilizers by 32.5%, fresh fruits by 7.9%, carpets and clem by 8.5%, and other varieties of textile materials by 7.1%.

“Export values of some commodities increased during September 2019, versus the same month the previous year such as crude oil by 1.2%, petroleum products by 5.2%, ready-made clothes by 11.7%, plastics in primary forms by 7.6%,” the CAPMAS reported.

In addition, the CAPMAS showed that Egypt’s import value decreased by 20.1 %, recording $5.86bn, down from $7.33bn during the same month last year.

The CAPMAS attributed the decrease in Egypt’s import value to the decreased value of some commodities, including petroleum products by 37.0%, raw materials of iron or steel by 12.6%, plastics in primary forms by 15.9%, and organic and inorganic chemicals by 1.2%.

“Meanwhile, imports of some commodities increased in September 2019, versus the same month previous year such as wheat by 12.8%, pharmaceuticals and pharmaceutical preparations by 8.6%, meat by 12.4%, and corn by 26.6%,” according to the CAPMAS.

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