Egypt’s trade balance decreased by 32.3% in January 2022: CAPMAS

Newspaper Title: https://dailynewsegypt.com/

Newspaper Number:

Wednesday - 13 April 2022

The Central Agency for Public Mobilisation and Statistics issued on Wednesday a monthly bulletin on foreign trade data for January 2022, in which Egypt recorded a deficit value in trade balance reaching $2.44bn in January 2022, down from January 2021’s $3.60bn — a decrease of 32.3%.

However, the value of exports increased by 34.5%, reaching $3.99bn, up from $2.97bn, due to an increase in the value of some commodities such as petroleum products by 107%, crude oil by 66.5%, ready-made clothes by 46.8%, and plastics in their primary forms by 76.3%.

On the other hand, the value of other exports decreased in January 2022, with fertilisers decreasing by 32.6%, fresh oranges by 13.6%, furniture by 8.5%, and ceramic tiles and sanitary ware by 14.3%.

Furthermore, the value of imports decreased by 2.2%, reaching $6.43bn, down from $6.57bn, due to a decrease in the value of some commodities such as crude oil by 0.6%, soybeans by 16.4%, wheat by 42.6%, and corn by 37.1%.

However, the value of some imports increased, such as petroleum products by 27%, raw materials of iron or steel by 49.4%, drugs and pharmaceutical preparations by 49.4%, and plastics in their primary forms by 34.2%.