Egyptian exports’ value increased by 44.1% to $5.48 billion in March 2022, up from February’s logged $4.12 billion
Egypt’s trade deficit fell in March 2022, dropping by 39.7% to $2.26 billion, states data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
March 2021’s trade deficit was recorded at $3.74 billion, with the deficit hitting $2.7 billion in February 2022.
Egyptian exports’ value increased by 44.1% to $5.48 billion in March 2022, up from February’s logged $4.12 billion.
CAPMAS attributed the increase to petroleum product exports’ value which surged by 128.6% in the 3rd month of the year, followed by crude oil at 74.1% and ready-made garments by 47%.
Some commodities did see drops in export value, mainly flat-rolled products of iron or steel which saw a large drop of 50.5%, the value of plastic exports declined by 11.4%, and dairy products decreased by 5.8%.
Imports value climbed to $7.74 billion, up 13.48% compared to February 2022’s $6.82 billion and March 2021’s recorded $7.55 billion.
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The statistics agency pointed towards an increase in the value of iron or steel by 144.9%, crude oil by 174%, and plastics by 6.9% as some of the main causes.
Some imported commodities that saw its value drop were wheat, organic and inorganic, and refined oils retreated by 1.9%, 32%, and 7.3%, respectively.
