Egypt’s balance of trade deficit declined by 25.2% year-on-year (YoY) to $2.69 billion last March, compared to $3.59 billion, data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) showed on Sunday.
Exports
The country’s exports surged by 43.5% YoY to $3.41 billion from $2.38 in March 2020.
Exports of medicines and pharmaceuticals hiked by 54.2%, ready-made garments by 49.3%, pastries and food preparations by 18.4%, and potatoes by 1.1%.
On the other hand, the exports of oranges fell by 72.4%, fresh fruits by 71.4%, fertilisers by 40.5%, and dairy products by 1.7%.
Imports
The North African nation’s imports went up by 2.2% to $6.10 billion in March, compared to $5.97 billion in the corresponding period a year earlier.
Imports of petroleum products increased by 92.5%, passenger cars by 73.9%, and medicines and pharmaceuticals by 9.7%.
Meanwhile, imports of wheat fell by 48.5%, iron and steel by 25.9%, crude petroleum by 20.8%, and meat by 7.4%.
