Cairo – Mubasher: Egypt’s balance of trade deficit narrowed by 17.7% to $2.91 billion in August from $3.53 billion in the same month a year earlier, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Tuesday.
Exports
The North African nation's exports surged by 50.5% year-on-year (YoY) to $3.26 billion in August, compared to $2.17 billion.
Exports of pastries and various meal preparations increased by 66.9%, plastics by 44.4%, ready-made garments by 35.5%, and fertilisers by 15.1%.
Meanwhile, the exports of furniture declined by 0.9% and perfumes and cosmetics by 5.5%.
Imports
The country's imports grew by 8.2% YoY to $6.17 billion, compared to $5.70 billion in August 2020.
Imports of petroleum products rose by 91.9%, crude petroleum by 30.6%, medicines and pharmaceuticals by 18.6%, and raw materials of iron and steel by 36.6%.
On the other hand, imports of organic and inorganic chemical materials fell by 4.3%, wheat by 30.5%, phones for individuals by 5.3%, and meat by 43.5%.
