Egypt’s trade balance deficit reached $4.88 billion in August 2024, compared to $4.03 billion in the same month of the previous year, marking an increase of 21.3%, according to the latest data released by the Central Agency for Public Mobilization (CAPMAS)

Key indicators include a 7.2% decline in export values, totaling $3.45 billion in August 2024 compared to $3.72 billion in the same month last year.

This decrease is attributed to lower export values of certain goods, most notably: crude oil down by 52.7%, primary forms of plastics down by 0.1%, various food pastes and preparations by 10.4%, and fresh fruits by 0.4%.

In contrast, exports of certain goods rose in August 2024 compared to the same month last year, including petroleum products up by 143.4%, ready-made garments up by 6.4%, iron bars, rods, angles, and wires by 13.2%, and dry legumes by 47.7%.

Imports increased by 7.6%, reaching $8.34 billion in August 2024, up from $7.75 billion in the same month of the previous year.

 This rise is largely due to higher import values of specific goods, particularly petroleum products up by 81.2%, natural gas up by 234.7%, wheat up by 26.5%, and raw iron or steel materials up by 25.8%.

Meanwhile, import values of some goods declined in August 2024 compared to the same month of the previous year, with notable decreases in corn down by 17.8%, passenger cars down by 28.3%, refined oils by down 18.0%, and wood products down by 10.1%.