The Daily News Egypt
Trade deficit increased by 13.8% end-December 2017: CAPMAS
Exports at $2.47bn, imports register $5.77bn
The value of the deficit in the trade balance in December 2017 came at about $3.30bn, compared to $2.90bn in December 2016, up by 13.8%,according to the Central Agency for Public Mobilisation and Statistics (CAPMAS).
In a recent report on Sunday, the CAPMAS said that Egyptian exports increased by 23% in December 2017, reaching $2.47bn, up from $2.01bn in December 2016.
The CAPMAS attributed the increase to the hike in the value of some commodities, including crude oil (up by 92.3%), fertilisers (up by 68.1%), garments (up by 14.2%), and plastics (up by 98.2%).
On the other hand, exports of some goods decreased in December 2017 compared to December 2016, such as oranges by 11.6%, furniture by 12.1%, textiles by 8.8%, and soap and detergents by 16.4%.
CAPMAS figures also showed that Egyptian imports in December 2017 were up by 17.6% overall, reaching $5.77bn, up from $4.91bn in December 2016.
It attributed that increase to a rise in the value of some goods, such as iron and steel by 48.2%, crude oil by 2.7%, wheat by 11.3%, and preliminary plastic moulds by 39.3%.
Egypt’s imports of some commodities declined during December 2017 compared to December 2016, such as oil products by 7.3%, passenger cars by 5.1%, corn by 39.7%, and vehicle spare parts by 33.3%.