Exports fell by 9.4% annually in October to reach $3.77 billion, down from September 2022’s $4.11 billion and October 2021’s $4.16 billion
Egypt’s trade deficit grew during October 2022, widening to $3.58 billion from September 2022’s $2.4 billion and October 2021’s $2.95 billion, revealed the latest date from the Central Agency for Public Mobilization and Statistics (CAPMAS).
Exports fell by 9.4% annually in October to reach $3.77 billion, down from September 2022’s $4.11 billion and October 2021’s $4.16 billion.
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CAPMAS attributed the fall to the decrease in the value of certain exported commodities including crude oil which dropped by 45.4%, fertilizers by 39.8%, and petroleum products by 24.6%.
Some commodities did see increases in value, particularly exports of fresh fruits by 71.7%, various pasta and food preparations by 20.6%, ready-made clothes by 19.7%, and natural and liquefied gas by 14.4%.
Imports were up in October to hit $7.35 billion, compared to September’s $6.55 billion and October 2021’s $7.11 billion.
Some imported commodities saw a climb in value such as petroleum products by 104.6%, wheat by 96.0%, crude oil by 90.1%, and plastics in their primary forms by 6.9%.
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Imported commodities that dropped in value were copper and its articles by 48.1%, raw materials of iron or steel by 27.0%, and medicines and pharmaceuticals by 20.4%.
