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CAPMAS reports Egypt’s trade deficit increased 30.2% in October

Wednesday 09/January/2019 - 02:49 PM
Sada El Balad
Hassnein Tayea
Egypt’s trade deficit increased 30.2 percent، recording $4.10 billion during October 2018 compared with $3.5 billion in the same month of 2017، according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

In September، Egypt marked a trade deficit of $3 billion، compared to $3.35 billion in the same month of 2017، with an increase of 8 percent.

In its monthly bulletin on foreign trade data، CAPMAS said that exports hiked 6.8 percent to reach $2.42 billion during the month of 2018، compared to $2.27 billion during the month of 2017.

The bulletin attributed the increase of exports to the rise in the exports of crude oil by 5.8 percent، fertilizers by 4.5 percent، and primary forms of Plastics by 21.4 percent.

Meanwhile، exports of some other commodities saw a decrease in October such as ready-made clothes which decreased by 1.4 percent، fresh fruits by 23.1 percent، furniture by 0.5 percent، and soap and detergents by 23.8 percent.

As per imports، the bulletin showed an increase of 21 percent to hit $6.98 billion in October of the current year، compared to $5.77 billion in October 2017.

CAPMAS ascribed this hike to the increase in imports of raw materials of iron and steel products by 1.7 percent، Cars by 104.4 percent، and wheat by 16.1 percent.

On the other hand، imports of other commodities showed a decline such as corn by 3.4 percent، meat by 20.5 percent، petroleum products by 70.4 percent، and pumps and fans 35.7 percent.

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