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Egypt’s trade deficit declines by 2.7% in February - Daily News Egypt

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Egypt’s trade deficit declines by 2.7% in February

Egypt trade deficit reached $3.63bn in February 2019, versus $3.72bn in the same month of the previous year, a decrease of 2.7%.


The Central Agency for Public Mobilization and Statistics (CAPMAS) issued on Monday the monthly bulletin of “Foreign Trade Data” for February 2019.

The exports’ value increased by 2.2%, reaching $2.48bn during February 2019, versus $2.43bn in February 2018, due to the increase of some commodities’ value, mainly as crude oil by 13.0 %, plastics in their primary form by 29.6%, potatoes by 27.9%, and fresh fruits by 94.2%.

On the other hand, the export value of other commodities decreased during February 2019, compared to February 2018, such as ready-made garments by 4.1%, fertilisers by 5.5%, fresh oranges by 67.8%, and carpets by 9.5%.

The import value also decreased by 7.0% as it reached $6.11bn during February 2019, versus $6.15bn in February 2018, due to the decline of some commodities’ value such as petroleum products by 25.5%, raw materials including iron or steel by 26.5%, cars by 2.0%, and soybeans by 0.9%.

However, the import value of some commodities increased in February 2019, compared to February 2018, including plastics in their primary forms by 15.1%, pharmaceuticals and pharmaceutical preparations by 48.4%, meat by 37.7%, and organic and inorganic chemicals by 4.9%.

https://dailyfeed.dailynewsegypt.com/2019/05/13/egypts-trade-deficit-declines-by-2-7-in-february/
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