Egypt’s trade balance recorded a deficit of $2.69bn in March, according to the Central Agency for Public Mobilization and Statistics (CAPMAS) in its monthly “Foreign Trade Data” bulletin for March 2020.
The March 2020 figures compare to the $4.38bn reported in the same month of the previous year, marking a decrease of 38.6%.
Exports value decreased by 18% as it reached $2.24bn during March 2020, versus $2.73bn for the same month of previous year. The decline was attributed to the decreased value of some commodities, including ready-made clothes by 23.9 %, petroleum products by 70.7%, crude oil by 46.8%, and miscellaneous edible preparations by 3.2 %.
The exports value of some commodities also decreased during March 2020, with falls seen in fertilisers by 34.5.0%, potatoes by 7.9%, fresh oranges by 38.7%, and fresh fruits by 1.8%.
Egypt’s imports value decreased by 30.6% as it reached $4.93bn during March 2020, versus $7.11bn for the same month of previous year. The fall was attributed to the decreased value of some commodities, including raw materials of iron or steel at 8.9%, wheat by 28.8 %, petroleum products by 70.0%, and medicines and pharmaceuticals by 2.2%.
Imports of some commodities increased in March 2020 compared to the same month of the previous year. This includes commodities such as crude oil by 62.2%, corn by 40.3%, refined oils by 34.5%, and dairy products by 1.5%.