Data from the Central Agency for Public Mobilization and Statistics in Egypt revealed that the trade balance deficit decreased to $2.61 billion in May 2022, compared to $4.06 billion in the same month last year, or 35.8 percent.
The value of Egypt's exports increased by 18.3 percent, reaching $4.01 billion during May 2022, compared to $3.39 billion during the same month of the previous year. This is due to the increase in the value of exports of some commodities, especially petroleum, natural, and liquefied gas products, by 44.1 percent, crude oil by 30.7 percent, fertilizers by 33.9 percent, and ready-made garments by 48.1 percent.
The value of exports of some commodities decreased during the month of May 2022 compared to the same month of the previous year. On the other hand, the value of imports decreased by 11.1 percent, reaching 6.62 billion dollars during the month of May 2022, compared to 7.45 billion dollars during the same month of the previous year, due to the decrease in the value of imports of some commodities.
Source (CNBC Arabic Website, Edited)
