Egypt’s trade deficit expanded to $3.03bn in December 2023, marking a 17.8% increase from $2.57bn in the same month the previous year, according to the Central Agency for Public Mobilization and Statistics.
Export values fell by 23% to $3.48 billion, with significant declines in commodities like fertilizers (48.8%), petroleum products (46.8%), natural and liquefied gas (88.1%), and primary form plastics (35.5%). However, there were gains in ready-made clothes (24.9%), fresh fruits (3.6%), crude oil (60.2%), and food preparations (5%).
Conversely, import values dropped by 8.2% to $6.51 billion, influenced by decreases in organic and inorganic chemicals (8.2%), primary form plastics (17.2%), soybeans (14.7%), and wood products (40.5%). Notably, imports rose for petroleum products (24.7%), iron or steel raw materials (80.2%), pharmaceuticals (5.8%), and wheat (20.7%).
