Cairo – Mubasher: Egypt's balance of trade deficit surged by 21.10% year-on-year (YoY) to $3.58 billion in October 2022 from $2.95 billion, Ahram Gate cited the Central Agency for Public Mobilization and Statistics (CAPMAS).
Exports
Egypt registered exports worth $3.77 billion during October, a 9.40% YoY decline from $4.16 billion.
The decrease was attributed to a drop in crude oil, fertilisers, and petroleum products by 45.40%, 39.80%, and 25.60%, respectively.
Meanwhile, exports of fresh fruits hiked by 71.70% last October, while various pasta and food preparations soared by 20.60%.
Imports
The Arab republic imported goods at a value of $7.35 billion during October 2022, up 3.30% YoY from $7.11 billion.
Imports of petroleum products, wheat, and crude oil enlarged by 104.60%, 96%, and 90.10%, respectively.
However, the African nation posted a 48.10% plunge in the imports of copper and its articles. Imports of raw materials of iron or steel plummeted by 27%, whereas medicines and pharmaceuticals retreated by 20.40%.
According to a report recently issued by the CAPMAS, Egypt's annual headline inflation rate stood at 21.90% in December 2022, higher than 6.50% in the year-ago period.
Earlier, the Central Bank of Egypt (CBE) highlighted that the state’s annual core inflation rate widened to 24.40% in December from 21.50% in November 2022.
