Egypt's Trade Balance Deficit Drops 48.2% in February 2023: CAPMAS
Newspaper Title: https://see.news/
Newspaper Number:
Wednesday - 3 May 2023
Central Agency for Public Mobilization and Statistics (CAPMAS) issued on Wednesday the monthly bulletin of “Foreign Trade Data” for February 2023.
The deficit value of trade Balance reached 2.10 billion dollars during February 2023, versus 4.06 billion dollars for the same month of the previous year, a decrease of 48.2 %.
The most important indicator is as follows.
Exports value decreased by 22.2% as it reached 3.44 billion dollars during February 2023, versus 4.42 billion dollars for the same month of the previous year, due to a decreased value of some commodities such as: natural and liquefied gas by 33.3%, fertilizers by 24.9%, Petroleum products by 69.1%, and plastics in their primary forms by 11.8%.
While exports value of some commodities increased during February 2023, versus the same month of the previous year such as: fresh fruits by 1.0%, ready-made clothes by 0.1%, pasta and various food preparations by 55.5%, and Rods, Bars, Angles, Wires of Iron by 534.6%.
Imports value decreased by 34.7% as it reached 5.54 billion dollars during February 2023, versus 8.48 billion dollars for the same month of the previous year, due to a decreased value of some commodities such as raw materials of iron or steel by 54.9%, plastics in their primary forms by 48.6%, Medicines and pharmaceutical preparations by 36.1%, Wheat by 4.7%.
Imports of some commodities increased in February 2023, versus the same month of the previous year such as petroleum products by 18.1%, natural gas by 70.0%, Crude Oil by 75.1%, and Coal by 6.7%.
