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$3.84bn trade balance deficit in May: CAPMAS - Daily News Egypt

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$3.84bn trade balance deficit in May: CAPMAS

Exports register $2.48bn, imports $6.32bn


The deficit value of trade balance reached $3.84bn in May 2018, against $3.42bn in May 2017, up by 12.6%, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS)

In a recent report on foreign trade operations issued on Wednesday, CAPMAS said that exports were up in May 2018 by 1.4% to $2.48bn, compared to $2.44bn in May 2017.

CAPMAS attributed the increase to the increased value of some commodities such as fresh fruits by 113%, plastics by 17.2%, and miscellaneous edibles by 5%, as well as medications and pharmaceuticals by 13.9%.

Meanwhile, export values of some commodities decreased during May 2018, versus the same month of the previous year, such as crude oil by 6.2%, ready-made garments by 6.5%, fertilisers by 8.8%, and fresh oranges by 0.8%.

On the other hand, import value increased by 7.9%, as it reached $6.32bn during May 2018, versus $5.86bn in the same month of the previous year, due to the increased value of some commodities such as primary forms of iron or steel by 74.3%, crude oil by 60.4%, plastics by 25.1%, and organic and non-organic chemicals by 10.7%.

Imports of some commodities decreased in May 2018 versus the same month of the previous year, such as wheat by 26.9%, corn by 0.5%, engines & generators by 36.4%, copper and articles by 42.1%.

Topics: Egypt trade
https://cdn2.dailynewsegypt.com/2018/08/08/3-84bn-trade-balance-deficit-in-may-capmas/
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