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Egypt has succeeded in achieving a noticeable decrease in the trade deficit during the first nine months of 2022, despite the increase in the value of imports.
Egypt has succeeded in achieving a noticeable decrease in the trade deficit during the first nine months of 2022, despite the increase in the value of imports. The official data indicates that the trade balance deficit decreased to US$33.5 billion in the first nine months of 2022 compared to US$34.9 billion in the same period in 2021, which works out to a 4 percent decrease.
The narrowing of the trade gap was mostly due to an increase in Egyptian exports at 26.6 percent during the first nine months of 2022. In absolute terms, it worked out to US$ $38.7 billion.
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Egypt’s Trade Balance recorded a deficit of 2.4 US$ billion in September 2022, compared with a deficit of 4.2 US$ bn in the previous month, which is billed as a good augury/
