Cairo – Mubasher: Egypt’s trade deficit slid by 21.9% year-on-year, recording $3.38 billion in June from $4.33 billion, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Thursday.
Exports
The most populous Arab nation’s exports increased by 4.3% to $2.3 billion in June, compared to $2.2 billion in the same month a year earlier, on the back of the increase in exports of petroleum products, crude oil, fresh fruits, and ready-made garments.
On the other hand, exports of fertilizers, pharmaceuticals, food products, and soaps and detergents declined in the sixth month of 2019.
Imports
The North African nation’s imports fell by 13% year-on-year to $5.68 billion in June from $6.53 billion, pressured by the decrease in imports of petroleum products, raw steel and iron, plastics, and cars.
Meanwhile, imports of organic and inorganic chemicals, drugs, pharmaceuticals, maize, and meat increased in June.
In May, Egypt’s trade deficit retreated by 24.6% to $3.34 billion from $4.42 billion in the same month of 2018.
