Egypt’s trade deficit decreased by 39.7%, according to the Central Agency for Public Mobilisation and Statistics’ (CAPMAS) monthly Foreign Trade Data Bulletin for March 2022.
The trade deficit recorded $2.26bn in March 2022, down from March 2021’s $3.74b.
Also, the value of exports increased by 44.1%, reaching $5.48bn, up from $3.81bn, due to an increase in the value of some commodities, such as petroleum products by 128.6%, crude oil by 74.1%, fertilisers by 90.8%, and ready-made clothes by 47%.
Meanwhile, the value of other exports decreased, with plastics in their primary forms receding by 11.4%, flat products of iron or steel by 50.5%, dairy products by 5.8%, and fresh oranges by 21.4%.
Additionally, the value of some imports increased by 2.6%, recording $7.74bn, up from March 2021’s $7.55bn, due to the increased value of some commodities, including raw materials of iron or steel by 144.9%, crude oil by 174.0%, plastics in their primary forms by 6.9%, and corn by 7.2%.
On the other hand, some imported commodities decreased in value, such as wheat by 1.9%, organic and inorganic chemicals by 32%, motor vehicles by 44.7%, and refined oils by 7.3%.
