CAIRO - 14 March 2023: Egypt's trade balance deficit decreased 54 percent during December on an annual basis, to record $1.93 billion, compared to $4.20 billion during the same month of the previous year, according to the state's statistics agency (CAPMAS).
The decline in the trade balance deficit during December 2022 is due to a decrease in the value of imports by 28 percent, reaching $6.11 billion, compared to $8.49 billion for the same month of the previous year, according to the CAPMAS monthly bulletin on foreign trade data.
The value of imports of some commodities decreased, the most important of which are: petroleum products by 7.2 percent, medicines and pharmaceuticals by 16.2 percent, plastics in their primary forms by 48.8 percent, and wheat by 28.4 percent.
On the other hand, the value of imports of some commodities increased during the month of December 2022 compared to the same month of the previous year, the most important of which are: Natural gas by 82.5 percent, wood and its articles by 8.5 percent, pipes, pipes and fittings of iron or steel by 16.2 percent, and seeds and seeds for seeds by 9.3 percent.
Moreover, exports decreased by 2.7 percent, reaching $4.18 billion in December 2022, compared to $4.29 billion in the same month of the previous year.
The CAPMAS attributed the decline of the exports to the decrease in the value of exports of some commodities: ready-made clothes by 4.8 percent, petroleum products by 41.2 percent, crude oil by 45.1 percent, and plastics in their primary forms by 31.4 percent, according to the statement.
However, the exports of some commodities increased during December 2022 compared to the same month of the previous year, the most important of which are: liquefied natural gas by 47.3 percent, fresh fruits by 25.7 percent, fertilizers by 83.3 percent, and various pasta and food preparations by 22.9 percent.