Egypt's trade balance deficit fell by 48.2% in February

Posted on May 8, 2023   |  

In February, Egypt's trade balance deficit declined by 48.2% to $2.1 billion, down from $4.06 billion a year earlier.

In January, the country's trade balance deficit fell by 47% to $2.48 billion compared to $4.68 billion in the same month in 2022.

Exports fell by 22.2% to $3.44 billion from $4.42 billion in February 2022. Key exports included natural gas, fertilizers, petroleum products, and raw plastics.

In February, exports of fresh fruits grew by 1% year-on-year, while exports of food preparations and bakeries grew by 55.5% and exports of some steel products grew annually by 534.6%.

Imports fell by 34.7% to $5.54 billion compared to $8.48 billion in the same month of 2022.