The Central Agency for Public Mobilization and Statistics (CAPMAS) announced Monday that the value of Egypt’s trade deficit fell to US$3.63 billion in February 2019 compared to $3.72 billion for the same month of last year, a decline of 2.7 percent.
In its monthly bulletin of foreign trade data, CAPMAS added that exports rose by 2.2 percent, reaching $2.48 billion during February 2019 compared to $2.43 billion for the same month last year.
The bulletin pointed out that exports rose supported by the increase in the value of some commodities, the most important of which is crude oil by 13 percent, polymers in primary forms (plastics) by 29.6 percent, potatoes by 27.9 percent, and fresh fruits by 94.2 percent.
The value of exports of some commodities decreased during February 2019 compared with the same month last year, the most important of which are ready to wear clothes by 4.1 percent, fertilizers by 5.5 percent, fresh orange by 67.8 percent and carpets and kilims by 9.5 percent.
The bulletin showed that imports declined by 0.7 percent, reaching $6.11 billion in February 2019, compared to $6.15 billion for the same month last year.
The bulletin attributed this to the decline in the value of imports of some commodities, mainly petroleum products by 25.5 percent, raw materials of iron or steel by 26.5 percent and soybean by 0.9 percent.
The value of imports of some commodities increased during February 2019 compared with the same month of the previous year, the most important of which are drugs and pharmaceutical preparations by 48.4 percent, wheat by 37.7 percent and organic and inorganic chemicals by 4.9 percent.
Edited translation from Al-Masry Al-Youm