Egypt’s trade deficit narrowed in April 2024, decreasing by 2.5% to hit $2.68 billion compared to $2.75 billion during April 2023, according to the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

According to its monthly bulletin, Egyptian exports saw a slight uptick in April, going up by 0.8% to reach $3.29 billion compared to $3.26 billion recorded in April 2023.

CAPMAS attributed this to an increase in certain commodities, primarily petroleum products by 16.3%, ready-made clothing by 31.4%, pasta and food preparations by 45%, and medicines and pharmaceutical preparations by 64%.

Exports that fell in value were fresh fruits which dropped by 6%, fertilizers by 35.6%, plastics in their primary forms by 4%, and crude petroleum by 67.6%.

Egypt’s import value dropped by 0.7% to reach $5.97 billion, compared to $6.01 billion for the same month of the previous year.

The value of certain imported commodities fell in April, including plastics in their primary forms by 11.4%, organic and inorganic chemicals by 17.4%, medicines and pharmaceutical preparations by 9.4%, and corn by 33.1%.

Imported petroleum products increased by 32.5% in value, wheat by 45.2%, raw materials of iron or steel by 28.6%, and natural gas by 30.7%.

The value of Egypt's non-oil trade balance deficit declined by 22.9% during the first quarter (Q1) of 2024 to record about $6.4 billion, compared to $8.3 billion in the same period in 2023, according to a recent report issued by the Information and Decision Support Center (IDSC).

The value of non-oil exports amounted to about $9.7 billion during Q1 of 2024, compared to about $8.8 billion during the same quarter of last year, with an increase rate of about 10.2%.