Egypt announces its monthly trade balance

Egypt – The Central Agency for Public Mobilization and Statistics in Egypt issued the monthly bulletin of foreign trade data, which revealed a large deficit in the trade balance.

The value of the deficit in the Egyptian trade balance amounted to 2.73 billion dollars during the month of February 2024, compared to 2.71 billion dollars for the same month of the previous year, an increase of 0.7%.

The value of exports decreased by 4.7%, reaching $3.36 billion during February 2024, compared to $3.52 billion for the same month of the previous year.

This is due to the decline in the value of exports of some commodities, the most important of which are: (fertilizers by 46.0%, crude oil by 2.1%, natural and liquefied gas by 83.2%, ceramic tiles and sanitary ware by 18.7%).

While the value of exports of some commodities increased during the month of February 2024, compared to their counterpart for the same month of the previous year, the most important of which are (fresh fruits by 19.2%, ready-made clothes by 17.4%, petroleum products by 25.6%, pastries and various food preparations by 41.5%).

The value of imports decreased by 2.4%, reaching $6.08 billion during February 2024, compared to $6.23 billion for the same month of the previous year.

This is due to the decrease in the value of imports of some commodities, the most important of which are: (plastics in their primary forms by 17.0%, organic and inorganic chemicals by 14.6%, soybeans by 18.7%, iron ores and concentrates by 3.1%).

While the value of imports of some goods increased during the month of February 2024, compared to their counterpart for the same month of the previous year, the most important of which are: (petroleum products by 21.2%, raw materials of iron or steel by 45.6%, wheat by 56.8%, medicines and pharmaceutical preparations by 9.0%).

Source: “RT”