Egypt’s trade deficit declined to $3.22bn in October 2019, down from $4.75bn in the same period in 2018, a decrease of 32.2%, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The country’s exports decreased by 4.4% to $2.39bn in October, down from $2.50bn in the same period in 2018, the CAPMAS added in its monthly bulletin of foreign trade.
The CAPMAS attributed the decrease in exports value to the decrease of some commodities, such as petroleum products by 31.1%, crude oil by 17.2 %, fertilisers by 20.1%, plastics by 4.1%.
However, the value of some exported commodities increased in October 2019, such as ready-to-wear clothes by 8.3%, fresh fruit by 10.2%, dairy products by 10.9%, and ready-made textiles by 10.8%.
As for imports, the CAPMAS said their value decreased by 22.6%, to $5.61bn in October 2019, down from $57.25bn in October 2018.
The value of some imported commodities decreased, such as petroleum products by 23.5%, cars by 4.0%, and iron by 36.4%.
“Imports of some commodities increased in October 2019, such as corn by 3.6%, meat by 10.2%, soybean by 49.6%, fresh apples by 35.3%,” reported the CAPMAS.