Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016. REUTERS/Aly Song Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016. REUTERS/Aly Song

Egypt’s trade deficit records $3.87B in April

Thu, Jul. 11, 2019
CAIRO – 11 July 2019: Egypt’s trade deficit increased 6.8 percent during April 2019, recording $3.87 billion, compared to $3.63 billion in the same month of 2018, according to the state's statistics agency CAPMAS.

In its monthly bulletin on foreign trade data, CAPMAS said that exports rose0.5 percent to reach $2.58 billion in April 2019, compared to $2.57 billion during the same month of 2018.

The bulletin attributed the increase of exports to the rise in the exports of petroleum products by 231.1percent, crude oil by 35 percent, ready-made garments by 4.8 percent, and plastics by 8.8 percent.

Meanwhile, exports of some other commodities witnessed a decline in April such as fertilizers which decreased by 3.1 percent, Pasta and various food preparations by 3.4 percent, dairy products by 21 percent and furniture by 28.2 percent.

As per imports, the bulletin showed an increase of 4.2 percent to hit $6.46 billion in April of the current year, compared to $6.20 billion in April 2018.

CAPMAS ascribed this increase to the rise in imports of raw materials of iron or steel by 8.4 percent, wheat by 22.3 percent, plastics by 4.8 percent, and pharmaceuticals and pharmaceutical preparations by 54.8 percent.

On the other hand, imports of other commodities showed a drop such as petroleum products by 6 percent, organic and non-organic chemicals by 13.1 percent, soybean by 7.1 percent, and motor vehicles by 24.3 percent.

In March, Egypt’s trade deficit rose10.1 percent, recording $4.15 billion, compared to $3.77 billion in the same month of 2018.
 
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