The trade balance deficit amounted to $4.60 billion during July 2024, compared to $3.89 billion for the same month of the previous year, an increase of 18.3%, according to the latest data released by the Central Agency for Public Mobilization and Statistics ( CAPMAS).

According to CAPMAS, Egypt’s exports increased by 10.7%, reaching $3.54 billion in July 2024, compared to $3.20 billion in the same month of the previous year.

This growth is attributed to higher export values of several key goods, including ready-made garments, which rose by 37.4%, petroleum products by 98.5%, various food preparations and pastes by 36.8%, and primary plastic materials by 3.2%.

On the other hand, the value of certain exports declined in July 2024 compared to the same month last year. Crude oil exports decreased by 62.6%, fertilizers by 61.0%, iron bars, rods, angles, and wires by 34.2%, and plastic products by 0.1%.

Imports also rose by 14.9%, amounting to $8.14 billion in July 2024, up from $7.08 billion in July 2023.

 The increase was driven by higher import values of several goods, including petroleum products, which increased by 83.6%, natural gas by 210.1%, raw iron and steel materials by 49.4%, and pharmaceuticals by 7.9%.

However, the value of some imports decreased compared to July 2023. Wheat imports fell by 5.3%, passenger cars by 26.8%, corn by 16.7%, and soybeans by 12.4%.