Egypt Today: Egypt’s trade deficit declined 12.4 percent during June 2022, recording $3.21 billion, compared to $3.66 billion in the same month of 2021, according to the state's statistics agency (CAPMAS).
In its monthly bulletin on foreign trade data, CAPMAS elaborated that exports decreased 3.3 percent, recording $3.75 billion in June 2022, compared to $3.88 billion during the same month of 2021.
The bulletin attributed the decrease of exports to the decline in the exports of various commodities, such as: fertilisers by 20.9 percent, pasta and food preparations by 8.7 percent, flat products of iron or steel by 31.7 percent, bars, rods, angles and wires of iron by 6.8 percent.
Meanwhile, exports of some other commodities witnessed a decrease in June such as: petroleum and natural liquified gas products by 49.4 percent, crude oil by 15.6 percent,ready-made clothes by 12.7 percent, and plastics in their primary forms by 29.4 percent.
Moreover, the bulletin showed a decrease of 7.7 percent in imports to hit $6.96 billion in June of 2022, compared to $7.54 billion in the same month of 2021.
It attributed the decline in imports' value due to the decrease in the value of imports of some commodities, such as: raw materials of iron or steel by 2.7 percent, plastics in their primary forms by 9.9 percent, medicines and pharmaceutical preparations by 3.5 percent, soybeans by 35.3 percent.
The value of imports of some commodities increased during June 2022 compared to the same month of the previous year, such as: petroleum products by 165.8 percent, crude oil by 9.7 percent, corn by 50.1 percent, wheat by 238.4 percent.