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Egypt’s trade deficit falls to 15.4% in October 2017: CAPMAS

Thursday 11/January/2018 - 02:21 PM
Sada El Balad
Hassanein Tayea
The Central Agency for Public Mobilization and Statistics (CAPMAS)، Egypt’s trade deficit fell to 15.4 % to reach $3.22 billion in October 2017، compared to $3.79 billion in the same month last year.

The value of exports increased by 21.5 percent in October 2017، reaching $2.24 billion، compared to $1.85 billion in October 2016، CAPMAS said.

It attributed the rise to an increase in the value of exports of some products، including readymade garments، with a 41.1 percent increase، plastics (39.2%)، soap and cleaning products (37.3%).

Meanwhile، exports of some other products declined in October 2017 compared to a year earlier، including fruits، with a 28.3 percent drop، petroleum products (12.7%) and crude (9.5%).

The statistics agency added that imports fell by 3.3 percent in October 2017 to stand at $5.46 billion versus $5.64 billion in October 2016، ascribing this to a drop in imports of some goods، including cars (45.4%)، medications (3%)، petroleum products (1.5%) and corn (1.4%).

However، imports of other products saw an increase، including iron and steel (19.2%)، meat (38.7%) and wheat (11.2%).

Egypt’s 2017 trade deficit fell 26 percent year-on-year by $12 billion، the Trade Ministry said earlier this month.

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