16 Jun 2022

CAPMAS (The Central Agency for Public Mobilization & Statistics) released external trade data for March 2022, indicating that Egypt’s trade deficit dropped by 40% YoY in March 2022 to sit at USD2.3bn. Exports increased by a whopping 44% YoY, with petroleum products, crude oil, fertilizers, and ready-made garments leading the surge. Imports increased by only 2.5% YoY, with the minor increase led by raw iron & steel, crude oil, plastics, and corn. (Sources: Zawya (English) (Arabic), Mubasher (English), Daily News Egypt (English), Egypt Today (English), al-Borsa, al-Youm al-Saabe, al-Dustour, Masrawy, al-Sharq Business, CNBC Arabia, al-Arabiya)