Egypt’s trade deficit reached $2.7bn during July 2022, versus $3.8bn in the same month of the previous year, a decrease of 28.7%, according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) monthly bulletin of “Foreign Trade Data” issued on Tuesday.
Egypt’s exports increased by 2.2% as it reached $3.13bn during July 2022, versus $3.07bn in the same month of 2021, due to an increase in the value of some commodities, such as petroleum products by 89.4%, fertilizers by 6.7%, plastics in their primary forms by 3.4%, and fresh fruits by 11.4%.
The value of some commodity exports decreased during July 2022, versus the same month of previous year such as crude petroleum by 30.5%, ready-made clothes by 0.1%, pasta and miscellaneous food preparations by 21.6%, and carpets by19.7%.
Moreover, the value of imports decreased by 14.8% as it reached $5.81bn during July 2022, versus $6.82bn in July 2021, due to a decrease in the value of some commodities, such as raw materials of iron and steel by 13.3%, medicines and pharmaceutical preparations by 24.1%, crude oil by 40%, and soybeans by 33.5%.
The value of other commodity imports increased in July 2022, versus the same month of previous year, such as petroleum products by 597.9%, plastics in their primary forms by 11.4%, organic and inorganic chemicals by 0.4%, and corn by 3.4%.