07 Jul 2022

CAPMAS (The Central Agency for Public Mobilization & Statistics) released external trade data for April 2022, showing that Egypt’s trade deficit dropped by a stunning 53% YoY to sit at USD1.7bn. Exports shot up by over 54% YoY, mainly attributable to increases in outbound shipments of petroleum products, crude oil, fertilizers, and ready-made garments. Imports went up by only 2.7%, with increases witnessed in petroleum products, wheat, pharmaceuticals, and chemicals. (Sources: Daily News Egypt (English), Egypt Today (English), Amwal al-Ghad, Zawya, al-Youm al-Saabe, al-Masry al-Youm, Akhbar al-Youm, Sada el-Balad, Masrawy, CNBC Arabia, al-Arabiya)