Egypt’s balance of trade deficit increased by 10.0% year-on-year (YoY) to $3.34 billion in May from $3.04 billion, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
Exports
The North African nation’s exports jumped by 80.3% to $3.11 billion in May, compared to $1.72 billion in the corresponding month in 2020.
The surge in exports was ascribed to higher exports of plastics by 96.6%, pastries and miscellaneous food preparations by 81.4%, and fresh fruits by 70.9%.
On the other hand, exports of fertilisers dropped by 48.1%, dairy products by 29.2%, furniture by 19.8%, and perfumes and cosmetics by 9.4%.
Imports
Egypt’s imports grew by 35.4% to $6.45 billion in May, compared to $4.76 billion in the same month a year earlier, supported by higher imports of medicines and pharmaceuticals by 58.6%, plastics by 57.9%, wood and its products by 65.9%, and soybeans by 21.2%.
