18.3% increase in Egypt’s trade deficit in July 2024
The Central Agency for Public Mobilization and Statistics issued the monthly bulletin of Foreign Trade Data for July 2024.
Egypt’s trade deficit reached $4.60bn during July 2024, versus $3.89bn for the same month of the previous year, an increase of 18.3%.
Egypt’s exports increased by 10.7 % as it reached $3.54bn during July 2024, versus $3.20bn for the same month of the previous year, due to increased value of some commodities such as ready-made clothes by 37.4%, petroleum products by 98.5%, pastries and various food preparations by 36.8%, plastics in their primary forms by 3.2%.
While the export value of some commodities decreased during July 2024, versus the same month of the previous year, such as crude oil by 62.6%, fertilizers by 61.0%, iron bars, rods, angles and wires by 34.2%, and plastic products by 0.1%.
Imports value Increased by 14.9% as it reached $8.14bn during July 2024, versus $7.08bn for the same month of the previous year, due to an increased value of some commodities such as Petroleum products by 83.6%, natural gas 210.1by %, raw materials of iron or steel by 49.9%, pharmaceutical tools and preparations by 7.9%.
Imports of some commodities decreased in July 2024, versus the same month of the previous year, such as wheat by 5.3%, passenger cars by 26.8%, corn by 16.7%, and soybeans by 12.4%.
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