Trade Deficit Drops 32% YoY in January 2022

Giving More to Your Wealth
14 Apr 2022

CAPMAS (The Central Agency for Public Mobilization & Statistics) reported monthly foreign trade data, showing that Egypt’s trade deficit fell by over 32% YoY in January 2022 to reach USD2.4bn. Exports went up by 35% driven by increases in raw and manufactured petroleum products, ready-made garments, and plastics, but negatively impacted by a decline in the value of fertilizer exports. On the other hand, imports dropped by 2%. An increase in the value of some imports prevented the figure from declining further, such as raw iron & steel, pharmaceuticals, plastics, and petroleum products. (Sources: Zawya (English), Egypt Today (English), Business Today Egypt (English), Mubasher, Hapi Journal, Economy Plus Me, al-Ahram, al-Youm al-Saabe, al-Masry al-Youm, Akhbar al-Youm, Masrawy, CNBC Arabia)

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