CAIRO – 13 April 2022: Egypt’s trade deficit declined 32.3 percent during January 2022, recording $2.44 billion, compared to $3.60 billion in the same month of 2021, according to the state's statistics agency (CAPMAS).
In its monthly bulletin on foreign trade data, CAPMAS elaborated that exports increased 34.5 percent, recording $3.99 billion in January 2022, compared to $2.97 billion during the same month of 2021.
The bulletin attributed the increase of exports to the rise in the exports of various commodities, such as: petroleum products by 107 percent, crude oil by 66.5 percent, ready-made clothes by 46.8 percent, and plastics in their primary forms by 76.3 percent.
Meanwhile, exports of some other commodities witnessed a decrease in January such as: fertilizers by 32.6 percent, fresh oranges by 13.6 percent, furniture by 8.5 percent, tiles and ceramic sanitary ware by 14.3 percent.
Moreover, the bulletin showed a decrease of 2.2 percent in imports to hit $6.43 billion in January of 2022, compared to $6.57 billion in the same month of 2021.
It attributed the decline in imports' value due to the decrease in the value of imports of some commodities, such as: crude oil by 0.6 percent, soybean by 16.4 percent, wheat by 42.6 percent, and corn by 37.1 percent.
The value of imports of some commodities hiked during January 2022 compared to the same month of the previous year, such as: petroleum products by 27 percent, raw materials of iron or steel by 49.4 percent, medicines and pharmaceutical preparations by 49.4 percent, and plastics in their primary forms by 34.2 percent.