Arab Finance: Egypt’s trade balance deficit fell 49.6% year on year (YoY) in March 2023 to $1.96 billion, compared to $3.89 billion, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on June 15^th.

Exports decreased by 34.6%, recording $3.75 billion in last March from $5.72 billion during the same month of 2022.

The decrease was attributed to the drop in the value of some exports, including natural and liquefied gas, fertilizers, ready-made garments, and crude petroleum.

Meanwhile, imports went down 40.6% to $5.71 billion YoY from $9.61 billion in March 2022.

This was driven by the decrease in the value of various imports, including pharmaceuticals, iron and steel, wheat, and organic and non-organic chemicals.

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