During August, the deficit in the trade balance recorded EGP 37.8bn, compared to EGP 38.9bn in August 2015, a decrease of 3.1%, according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) monthly bulletin on foreign trade statistics.
In a statement issued on Monday, CAPMAS noted that the deceleration happened because the value of exports increased by 22.9% to reach EGP 16.7bn in August compared to EGP 13.6bn in August 2015, due to an increase in the value of crude oil by 16.6%, ready-made garments by 7.1%, food ingredients by 6.9%, and fertilisers by 87.9%.
However, CAPMAS noted that the quantity of some exported products decreased compared to August 2015, such as petroleum products by 17.6%, raw plastic materials by 25.1%, plastic by 5%, and fresh onions by 39.9%.
On the other hand, the statement said that the value of imports increased by 3.6%, rising to EGP 54.4bn instead of EGP 52.5bn in August 2015.
CAPMAS noted that the value of petroleum products increased by 22%, raw iron materials by 6.1%, medicines by 0.4%, and car parts by 8.1%.
However, the statement added that other imports showed a decrease in value during August, such as cars by 10.8%, raw plastics by 13.5, corn by 16.9, and wood and its products by 10.9%.