Egypt's Trade Deficit Narrows by 16% in October 2024
Egypt: In October 2024, Egypt's trade deficit decreased by 16% to $3.66 billion from $4.36 billion in October 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). Exports increased by 21.3% to $4.07 billion, driven by higher exports of petroleum products (up 121.5%), crude oil (up 31.7%), ready-made garments (up 15.6%), and various food preparations (up 24%). However, exports of fertilizers, pharmaceuticals, flat-rolled iron or steel products, and ceramic tiles declined. Imports rose slightly by 0.2% to $7.73 billion, with increases in petroleum products, natural gas, primary plastics, and organic and inorganic chemicals. Conversely, imports of raw iron or steel materials, pharmaceuticals, copper products, and soybeans decreased.
Source: See News