Cairo – Mubasher: Egypt’s balance of trade deficit narrowed by 8.6% year-on-year (YoY) to $3.30 billion in June from $3.61 billion, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
Exports
The North African nation’s exports fell by 7.9% YoY to $2.26 billion from $2.45 billion in June 2019, the CAPMAS said in its monthly report on foreign trade on Sunday.
The decrease in exports was attributed to lower exports of fresh fruits by 10.5%, ready-made garments by 2.5%, crude petroleum by 46.3%, and plastics by 10.4%.
On the other hand, exports of pastries and various food preparations grew by 28.0%, while exports of dairy products and plastics increased by 29.3% and 79.8%, respectively.
Imports
Egypt’s imports went down by 8.3% to $5.56 billion in June, compared to $6.06 billion in the same month a year earlier, the report showed.
Imports of plastics decreased by 1.6%, maize by 2.9%, crude petroleum by 24.5%, and wheat by 5.3%.
In the meantime, the imports of medicines and pharmaceuticals increased by 18.8%, while imports of raw materials of iron and steel, organic and inorganic chemicals, and soybean rose by 3.8%, 1.8%, and 118.9%, respectively.
