Arab Finance: Egypt’s trade balance deficit fell by 41.3% to $2.44 billion in September 2022, versus $4.15 billion in the same month of 2021, according to a press release published by the Central Agency for Public Mobilization and Statistics (CAPMAS) on December 5th.

The value of Egyptian exports jumped by 11.6% year-on-year (YoY) to $4.11 billion in September 2022 from $3.68 billion, the CAPMAS added.

Higher value of exports was driven by increases in some goods’ exports, including liquefied natural gas (LNG), fertilizers, and ready-made clothing that surged by 671.7%, 15.1%, and 9.2%, respectively.

On the other hand, the value of Egypt’s exports of petroleum products fell by 29.3% in September, while the value of crude oil exports shrank by 47%.

Meanwhile, the value of Egypt’s imports amounted to $6.55 billion last September, dropping by 16.4% from $7.83 billion in September 2021.

The CAPMAS attributed the decline in imports' value to a decline in some goods’ value, including wheat and pharmaceuticals which fell by 2.6% and 35.4%, respectively.

However, the value of petroleum products imports rose by 84.6% in September, and the value of natural gas imports grew by 69%.