The deficit in the trade balance during the first seven months of this year amounted to about $21.3bn, down from $28.7bn in the same period of 2016, a decline of $7.4bn, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
In a report obtained by Daily News Egypt, the agency said that the total value of Egyptian exports increased during the first seven months of 2017 to $14.8bn, versus $12.5bn in the same period last year.
On the other hand, Egypt’s imports during the period from January to July 2017 registered $36.2bn, compared to $41.3bn in year-on-year, down by $5.1bn.
According to the agency, among the commodities imported by Egypt in the first seven months of 2017 were contraceptives worth $50m.
Egypt is experiencing a significant increase in the population growth rate, with the population increasing by 2.5%, equivalent to 2.5 million births per year.
During the same seven months, Egypt also imported insecticides worth $108.2m, animal food worth $86.2m, soap and detergents worth $90.3m, footwear worth $47.7m, and toys worth $30.9m.
In the same context, the figures revealed that processed industry supplies and primary food commodities for consumption, fuel and crude oil were among the top exports from Egypt in the first seven months of the year.
Meanwhile, Egypt’s exports of passenger cars during the first seven months of 2017 amounted to $1m only.