Egypt’s trade deficit inches up 0.7% YoY in February
Updated 5/7/2024 7:02:00 AM
Arab Finance: The Egyptian trade deficit has recorded a slight uptick of 0.7% during February, reaching $2.73 billion, as per data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
This increase in the trade deficit aligns with a significant downturn of 4.7% in exports, valuing at a total of $3.36 billion.
The export of key commodities, including fertilizers saw a 46% decrease, while exports of natural and liquefied gas witnessed a sharp decline of 83.2%.
Additionally, exports of tiles and sanitaryware fell by 18.7%.
Concurrently, imports also saw a downturn, dropping by 2.4% to $6.08 billion. This decrease was influenced by a decline of 17% in the imports of plastics and a drop of 14.6% in the organic and inorganic chemical experts.
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