Cairo – Mubasher: Egypt’s trade deficit declined by 18.9% to $4.21 billion in July, compared to $5.18 billion in the same month a year earlier, data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Sunday showed.
Exports
The North African nation’s exports retreated 5.7% year-on-year to $2.22 billion in the seventh month of 2019 from $2.35 billion, dragged by a drop in some exports, including crude oil, petroleum products, fertilizers, and furniture which fell by 9.3%, 32.6%, 15.5%, and 22.6%, respectively.
In the meantime, exports of some goods increased during July such as ready-made garments, plastics, and fresh fruits which rose by 9.7%, 21.4%, and 31.5%, respectively.
Imports
On the other hand, imports of the most populous Arab nation decreased by 14.8% to $6.42 billion last July from $7.53 billion in the same month of 2018.
Imports of petroleum products, steel and iron ore, plastics, and cars went down by 24.6%, 37.2%, 6.2%, and 10.0%, respectively, while imports of meat, maize, soybeans, and phones for individuals rose by 153.5%, 10.8%, 19.9%, 23.6%, respectively.
