Egypt's trade deficit decreased by 28.8 percent during the month of October, bringing the deficit to $ 2.9 billion, compared to $ 4.1 billion during the same month of the previous year 2019.
The Central Agency for Public Mobilization and Statistics revealed that the value of exports declined during the month of October, 13.1 percent, on an annual basis, recording $ 2.2 billion. The agency attributed the reasons for the decline in exports to the decrease in the value of exports of some commodities, the most important of which are ready-made clothes by 6.6%, petroleum products by 27.3%, crude oil by 34.3%, in addition to fertilizers by 16.4%. While the value of exports of some commodities rose during the same month, such as pasta and various food preparations by 2.1%, carpets by 3.5%, in addition to furniture by 33.5%. The value of imports decreased by 22.8 percent last October on an annual basis, registering 5.1 billion dollars.
The most important commodities whose import value decreased were petroleum products by 32.8%, crude oil by 20.7%, medicine and pharmaceuticals by 0.3%, and raw materials of iron or steel by 32%. On the other hand, the value of imports of some commodities increased during last October, the most important of which were wheat by 27.1 percent, passenger cars by 6.2 percent, and copper and its articles by 22.6 percent.
Source (Al-Sharq Al-Awsat newspaper, Edited)
