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Egypt’s trade deficit declined by 53 percent in April 2022, recording US$1.70 billion, compared to US$3.62 billion in the same month of 2021. This was revealed by the state’s statistics agency (CAPMAS). The agency said that exports increased by 54.2 percent, recording US$4.94 billion in April 2022, compared to US$3.20 billion during the same month of 2021
Egypt’s trade deficit declined by 53 percent in April 2022, recording US$1.70 billion, compared to US$3.62 billion in the same month of 2021. This was revealed by the state’s statistics agency (CAPMAS). The agency said that exports increased by 54.2 percent, recording US$4.94 billion in April 2022, compared to US$3.20 billion during the same month of 2021.
The increase in exports was mainly due 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.
In the meantime, 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, and soaps and cleaning preparations by 1.2 percent.
There was a decrease of 2.7 percent in imports taking a hit of US$6.64 billion in April of 2022, compared to US$6.82 billion in the same month of 2021.
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It attributed the increased 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, and organic and inorganic chemicals by 4.6 percent.
However, the value of imports of some commodities increased during April 2022 compared to the same month of the previous year. These include commodities 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.
