Egypt Daily News – In May 2024, the trade balance deficit was recorded at $3.57 billion, which reflects a 10.3% improvement compared to the $3.98 billion deficit in May 2023.
Export values experienced a slight increase of 0.4%, totaling $3.81 billion, up from $3.79 billion during the same month last year. Notable increases in export categories included:
- Fresh fruits: up by 17.4%
- Clothing: up by 5.5%
- Doughs and food preparations: up by 32.2%
- Carpets and kilims: up by 1.3%
However, some export categories saw declines, particularly:
- Crude petroleum: down by 4.3%
- Petroleum products: down by 17.4%
- Fertilizers: down by 5.2%
- Plastics in primary forms: down by 10.5%
On the import side, there was a decrease of 5.1%, bringing the total to $7.38 billion, compared to $7.77 billion in May 2023. The decline in imports was largely driven by:
- Raw materials of iron or steel: down by 0.3%
- Plastics in primary forms: down by 2.9%
- Medicines and pharmaceutical preparations: down by 24.7%
- Organic and inorganic chemicals: down by 23.3%
Conversely, some key imports rose, such as:
- Petroleum products: up by 86.1%
- Wheat: up by 153.6%
- Natural gas: up by 39.2%
- Passenger cars: up by 15.2%
Overall, the combined changes in exports and imports reflect a mixed but generally downward trend in trade values year-over-year, signaling shifts in both domestic consumption and global market conditions.
