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Egypt’s trade deficit rises to $3.8 bln in May

Wednesday 08/August/2018 - 08:35 PM
Sada El Balad
Hassnein Tayea
Egypt’s trade deficit rose 12.6% during May 2018، hitting $3.84 billion، compared to $3.42 billion in the proceeding period in 2017، the Central Agency for Public Mobilization and Statistics (CAPMAS) said on Wednesday.

In April، Egypt marked a trade deficit of $3.32 billion، compared to $3.19 billion in the same month of 2017، with an increase of 4.1 percent.

In its monthly bulletin on foreign trade data، CAPMAS said that exports increased 1.4 percent to reach $2.48 billion during the month of 2018، compared to $2.44 billion during the month of 2017.

The bulletin attributed the increase of exports to the jump in the exports of some goods، such fresh fruits، increasing by 113 percent، plastic (17.2 percent)،miscellaneous edible preparations (5 percent)، Medicaments and Pharma goods (13.9 percent).

Meanwhile، exports of some other commodities saw a decline in May such as crude oil، which decreased by 6.2 percent، readymade clothes (6.5 percent)، fertilizers (8.8 percent)، and fresh oranges (0.8 percent).

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.

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