The trade balance deficit decreased by 22.1% in September 2015 compared to the same month in 2014, the Central Agency for Public Mobilisation and Statistics (CAPMAS) revealed in its bulletin for foreign trade data on Sunday.
The bulletin showed that the deficit recorded EGP 29.49bn over September 2015, compared to EGP 37.86bn in the same month in 2014. CAPMAS showed a decline in exports’ value by 25.4%, recording EGP 11.12bn in September 2015 compared to EGP 14.90bn in September 2014.
The decline was attributed to a reduction in the value of a number of commodities, such as crude oil that declined by 46.8%, petroleum products by 57.7%, and clothes by 19.2%, according to CAPMAS.
The bulletin also highlighted that a number of commodities export increased in September 2015 compared to the same month previous year. These goods include fresh fruits, of which exports rose by 4.8% and fresh onions by 193.8%.
In September 2015, import value decreased by 23% recording EGP 40.61bn compared to EGP 52.76bn in September 2014.
CAPMAS added said the decline in imports is attributed to a decrease in the value of several goods, such as petroleum products by 15.8%, wheat by 50.3%, and crude oil by 67.9%.
Meanwhile, the import value of several products increased in September 2015 compared to September 2014, such as medicines, which increased in value by 1.5%, and meat by 29.3%.
In July 2015, the trade balance deficit inched up to register EGP 34.7bn, compared to EGP 25bn recorded in the same month in 2014, marking a 38.8% year-on-year increase.