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Elham AbolFateh

Business

CAPMAS: 4.1 pct rise in trade deficit in April

Sunday 08/July/2018 - 04:22 PM
Sada El Balad
Hassanein Tayea
Egypt’s trade balance deficit rose by 4.1 percent to register $3.32 billion in April 2018 compared to $3.19 billion in the proceeding period last year، according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

Exports increased by 3.7 percent to stand at $2.26 billion in April 2018 against $2.18 billion in the same month last year، according to the CAPMAS monthly bulletin out on Sunday.

Imports increased by 3.9 percent in April 2018 to record $ 5.58 billion against $ 5.37 billion in the corresponding month last year.
CAPMAS said earlier that Egypt’s exports in the first two months of 2018 recorded $4.5 billion، compared to $4 billion in the same period of 2017.

Meanwhile، Egypt’s non petroleum exports jumped 200 percent in the first two months of 2018، reaching $64 million، compared to $21 million in the same period of 2017.

As per imports، the bulletin showed an increase of 3.9 percent to hit $5.58 billion in April of the current year، compared to $5.37 billion in April 2017.

CAPMAS ascribed this hike to the increase of imports of raw materials of iron or steel by 66.8 percent، plastics by 17.5 percent، motor vehicles by 127.1 percent and chemicals، organic & non organic by 33.4 percent.

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