Exports- Creative Commons cia Pixabay
CAIRO – 6 July 2022: Egypt’s trade deficit declined 53 percent in April 2022, recording $1.70 billion, compared to $3.62 billion in the same month of 2021, according to the state's statistics agency (CAPMAS).
In its monthly bulletin on foreign trade data, CAPMAS elaborated that exports increased 54.2 percent, recording $4.94 billion in April 2022, compared to $3.20 billion during the same month of 2021.
The bulletin attributed the increase of exports to the rise in the exports of various commodities, such as: petroleum products by 204.3 percent, crude oil by 14.8 percent, ready-made clothes by 34.7percent, and fertilizers by 10.3 percent.
Meanwhile, exports of some other commodities witnessed a decrease in April such as: fresh fruits by 15.4 percent, pasta and food preparations by 20.5 percent, carpets and kilims by 12 percent, soaps and cleaning preparations by 1.2 percent.
Moreover, the bulletin showed a decrease of 2.7 percent in imports to hit $6.64 billion in April of 2022, compared to $6.82 billion in the same month of 2021.
It attributed the decline in imports' value due to the increase in the value of imports of some commodities, such as: petroleum products by 44.6 percent, wheat by 30.0 percent, medicines and pharmaceutical preparations by 20.3 percent, organic and inorganic chemicals by 4.6 percent.
The value of imports of some commodities increased during April 2022 compared to the same month of the previous year, such as: crude petroleum by 499.1 percent, raw materials of iron or steel by 55.2 percent, soybeans by 19.6 percent, and plastics in its primary forms by 2.8 percent.