The decline in exports was ascribed to drops in exports of certain commodities, including oil products and crude oil

15/11/2022 (Zawya) -  Egypt’s trade deficit inched up 0.6% year-on-year (YoY) to $4.18 billion in August 2022, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) on November 13th.

Exports dropped by 7.6% YoY to $3.33 billion in August 2022 from $3.61 billion in the same month a year earlier.

The decline in exports was ascribed to drops in exports of certain commodities, including oil products and crude oil whose exports plummeted by 19.8% and 49.7% YoY, respectively.

Meanwhile, exports of liquified natural gas (LNG) and fresh fruits surged by 179.1% and 72.3% YoY, respectively.

On the other hand, imports decreased by 3.2% in August, recording a value of $7.51 billion, which is attributed to 4.7%, 16%, and 7.5% YoY shrinkages in steel, corn, and soya beans imports, respectively.

https://www.zawya.com/en/economy/north-africa/egypts-trade-deficit-edges-higher-in-august-pg9khpa0