17.7% decrease in Egypt’s trade deficit during August 2021

Newspaper Title: https://dailynewsegypt.com/

Newspaper Number:

Tuesday - 9 November 2021

The Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Tuesday that Egypt’s trade deficit reached $2.91bn during August 2021, versus $3.53bn for the same period last year, a decrease of 17.7%.

Exports value increased by 50.5% to $3.26bn in August 2021, versus $2.17bn in August 2020, due to an increase value of some commodities such as pasta and food preparations by 66.9%, plastics in their primary forms by 44.4%, ready-made clothes by 35.5%, and fertilizers by 15.1%.

Meanwhile, the value of other exports decreased during August 2021, including furniture by 0.9%, perfumes and cosmetics by 5.5%, aromatic oils and resins by 17.1%, and oilseeds by 3.2%.

The value of imports increased by 8.2% to $6.17bn during August 2021, versus $5.7bn for the same month last year, due to increased value of some commodities, such as petroleum products by 91.9%, crude oil by 30.6%, medicines and pharmaceutical preparations by 18.6%, and raw materials of iron and steel by 36.6%.

The value of other imports decreased in August 2021, including organic and inorganic chemicals by 4.3%, wheat by 30.5%, telephones for individuals by 5.3%, and meat by 43.5%.