Egypt’s trade deficit decreases by 39.7% in March 2022

Daily News Egypt
1 Min Read

Egypt’s trade deficit recorded $2.26bn in March 2022, down from March 2021’s $3.74bn — a decrease of 39.7% — according to the Central Agency for Public Mobilisation and Statistics’ (CAPMAS) monthly Foreign Trade Data Bulletin for March 2022, which was released on Monday.

Also, the value of exports increased by 44.1%, reaching $5.48bn, up from $3.81bn, due to an increase in the value of some commodities, such as petroleum products by 128.6%, crude oil by 74.1%, fertilisers by 90.8%, and ready-made clothes by 47%.

Meanwhile, the value of other exports decreased, with plastics in their primary forms receding by 11.4%, flat products of iron or steel by 50.5%, dairy products by 5.8%, and fresh oranges by 21.4%.

Additionally, the value of some imports increased by 2.6%, recording $7.74bn, up from March 2021’s $7.55bn, due to the increased value of some commodities, including raw materials of iron or steel by 144.9%, crude oil by 174.0%, plastics in their primary forms by 6.9%, and corn by 7.2%.

On the other hand, some imported commodities decreased in value, such as wheat by 1.9%, organic and inorganic chemicals by 32%, motor vehicles by 44.7%, and refined oils by 7.3%.

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