The trade deficit narrowed during February and exports rose to 2.4 billion dollars

Economy and stock exchange

The trade deficit declined during the month of February by 2.7%, after reaching 3.63 billion dollars, compared to 3.72 billion dollars for the same month last year.

According to the monthly bulletin of foreign trade data for February 2019 issued by the Statistics Authority on Monday, the value of Egyptian exports rose 2.2%, reaching $ 2.48 billion during February 2019, compared to $ 2.43 billion for the same month last year.

The report pointed out that the increase in Egyptian exports is due to the increase in the exports of some commodities, the most important of which are: Crude oil at 13.0%, plastic in primary forms 29.6%, potatoes with 27.9% and fresh fruits by 94.2%.

On the other hand, exports decreased by 4.1%, fertilizers by 5.5%, fresh orange by 67.8%, carpets and carpets by 9.5%.

On the import level, imports declined during last February, reaching $ 6.11 billion in February 2019, compared to $ 6.15 billion for the same month last year, a decline of 0.7%.

The statistics agency pointed out that the decline in the volume of Egyptian imports is due to the decline in the value of imports of some commodities and the most important: "Petroleum products by 25.5%, raw materials of iron or steel by 26.5%, motor vehicles by 2.0%, soybean by 0.9%."

Meanwhile, the volume of imports during the month of February 2019 compared to the same month of the previous year were: Plastics (15.1%), Pharmaceuticals (48.4%), Wheat (37.7%), Organic and Inorganic Chemicals By 4.9%. "

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