Trade Deficit Drops 12.4% YoY in June 2022

Giving More to Your Wealth
13 Sep 2022

CAPMAS (The Center for Public Mobilization & Statistics) reported external trade data for June 2022, showing that Egypt’s trade deficit decreased by 12.4% YoY to USD3.2bn. Imports fell 7.7% YoY, while exports dipped 3.3% YoY. For exports, there were significant increases in petroleum & natural gas & LNG products in particular, as well as rises in crude oil and ready-made clothing. On the other hand, there were decreases in the exports of fertilizers, flat-rolled iron products, and food preparations. As for imports, there were drops in soybeans, pharmaceuticals, and raw iron & steel, while increases occurred in wheat, petroleum products, corn, and crude oil.

For 1H22, Egypt’s total external trade increased 18.5% YoY to reach USD74.4bn. During that period, there was a 12.9% YoY drop in the trade deficit. Exports soared by 36% YoY to reach USD27.4bn, while imports increased by 10.2% YoY to USD47.0bn. (Sources: Zawya (English) (Arabic), Daily News Egypt (English), Egypt Today (English), Sada el-Balad (English) (Arabic), Forbes Middle East (English), al-Sharq al-Awsat (English) (Arabic), al-Maal, Mubasher, Amwal al-Ghad (1) (2) (3), al-Borsa, Capital News, Aswaq Information, al-Youm al-Saabe, al-Watan, Akhbar al-Youm, Masrawy, Sky News Arabia, al-Khaleej)

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