Egypt’s balance of trade deficit shrank by 27.8% to $2.94 billion in June, compared to $4.07 billion in the same month a year earlier,according to recent data from the Central Agency for Public Mobilization and Statistics (CAPMAS)
Exports
The country’s exports surged by 49.2% year-on-year (YoY) to $3.61 billion from $2.42 billion in June 2020 as exports of plastics increased by 78%, ready-made garments by 54.6%, pastries and meal preparations by 53.1%, and fresh fruits by 13.8%.
On the other hand, exports of soap and detergents dropped by 7.0%, dairy products by 23.7%, frozen vegetables by 8.6%, and perfumes and cosmetics by 29.7%.
Imports
The North African nation’s imports rose by 0.9% to $6.55 billion in June, compared to $6.49 billion in the corresponding month in 2020.
Imports of copper and its products grew by 44.4%, passenger vehicles by 35.7%, raw materials of iron and steel by 22.4%, and medicines and pharmaceutical products by 12.4%.
Meanwhile, imports of organic and inorganic chemical materials fell by 6.3%, soybeans by 43.1%, meat by 32.2%, and iron ore and its concentrates by 5.3%.
