Egypt's trade deficit dips 21.6% to $2.41B in December

  • 16 March 2022 / News / 371 / Fares RAHAHLIA


Egypt's trade deficit dips 21.6% to $2.41B in December
CAIRO – 15 February 2022: Egypt’s trade deficit declined 21.6 percent during December 2021, recording $2.41 billion, compared to $3.08 billion in the same month of 2020, according to the state's statistics agency (CAPMAS).
 
 
In its monthly bulletin on foreign trade data, CAPMAS elaborated that exports increased 45.3 percent, recording $4.32 billion in December 2021, compared to $2.97 billion during the same month of 2020.
 
 
The bulletin attributed the increase of exports to the rise in the exports of various commodities, such as:ready-made garments by 33 percent, plastics in their primary forms by 28.4 percent, flat-rolled products of iron or steel  by 22.1 percent, pasta and miscellaneous food preparations by 18.6 percent.
 
 
 
Meanwhile, exports of some other commodities witnessed a decrease in December such as: fresh fruits by 0.9 percent, fertilizers by 25.1 percent, furniture by 7.6 percent, and fresh orange by 55 percent. 
 
Moreover, the bulletin showed an increase of 11.3 percent in imports to hit $6.73 billion in December of 2021, compared to $6.05 billion in the same month of 2020.

 
It attributed the hike in imports' value due to the increase in the value of imports of some commodities, such as: petroleum products by 71.2 percent, raw materials of iron or steel by 93.9 percent, passenger cars by 50.8 percent, and plastics in their primary forms by 70.0 percent.
 
 
The value of imports of some commodities hiked during December 2021 compared to the same month of the previous year, such as: petroleum products by 78.6 percent, copper and its products by 60.3 percent, medicines and pharmaceutical preparations by 37.9 percent, and plastics in their primary forms by 35.0 percent
 
While the value of some commodities’ imports decreased during December 2021 compared to the same month of the previous year, the most important of which are: wheat by 7.8 percent, corn by 8.6 percent, crude oil by 63.8 percent, and wood and its products by 11.3 percent.

source: egypttoday

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