Egypt’s trade deficit soars 52.7% in April: CAPMAS
Building of Central Agency for Public Mobilization and Statistics (CAPMAS) - YOUM7 (Archive)
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CAIRO: Egypt’s trade balance deficit surged to 24.6 billion EGP ($3.14 billion) at April- end, marking a 52.7 percent hike from 16.11 billion EGP in the same month a year earlier, state-statistical body reported Tuesday.

Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) attributed the rise to an 18.9 percent decline in exports while imports rose by 15.67 percent in this period.

“Exports slid to 14 billion EGP in April, down from 17.26 billion EGP in the same period last year,” the report said.

CAPMAS said the drop was mainly caused by a decline in commodity prices, notably crude oil, petroleum products, textiles, clothes, and potatoes.

Meanwhile, the value of imports soared to 38.8 billion EGP during April, compared to 33.37 billion EGP in the corresponding month last year, due to a price hike of some commodities such wood, corn, individual cars, and some oil products.

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