18.3% Increase In Egypt's Trade Deficit In July 2024
Date
10/15/2024 11:07:19 PM
(MENAFN- Daily News Egypt) 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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