14 November 2018

Egypt exports down 12.2%

Egyptian exports fell by 12.2 % to reach $1.98 billion in August compared to $2.26 billion in the same period last year, according to a report issued by the state-run statistics agency. The monthly bulletin of foreign trade data issued by the Central Agency for Public Mobilisation and Statistics (CAPMAS) indicated that the decline in total Egyptian exports was due to the drop in the exports of some commodities, most importantly ready-made clothes which dropped by 19.3%; plastic in primary forms, by 22.6%; pastries and miscellaneous food preparations by 5.6%; and carpets by 20.1%. On the other hand, the imports of some goods declined compared to 2017, such as petroleum products which declined by 8.6%, plastics in their primary forms by 6.1%, wheat by 31.7%, and meat by 15%. The trade deficit recorded $3.95 billion in August compared to $3.66 billion in the same month last year, marking an increase of 0.8%.

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