Cairo – Mubasher: Egypt’s trade deficit narrowed by 51.4% year-on-year (YoY) to $1.95 billion in February, compared to $4.01 billion, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
Exports
The most populous Arab nation’s exports rose by 3.3% to $2.69 billon in February from $2.61 billion in the same month a year earlier, CAPMAS revealed in a statement on Wednesday.
Exports of pastries, fresh fruits, medicines and pharmaceuticals, and frozen vegetables increased by 11.4%, 65.3%, 32.4%, and 25.6%, respectively.
On the other hand, exports of petroleum products, ready-made garments, fertilizers, and crude petroleum declined by 23%, 6.6%, 20%, 55.1%, in that order.
Imports
Meanwhile, the North African nation’s imports fell by 29.9% YoY to $4.64 billion in February from $6.62 billion.
Imports of iron ore and steel, wheat, petroleum products, and plastics dropped by 28.6%, 25.2%, 68.1%, and 36.2%, respectively.
On the other hand, imports of crude petroleum, cars, maize, and refined oils increased by 135.2%, 23.3%, 10.5%, and 38.6%, in that order.
