The Clap
Egypt’s trade balance deficit decreased in March by 39.7% on an annual basis, recording $2.26 billion in March 2022.
The deets
The decrease was a result of an increase in the value of exports by 44.1% on an annual basis, especially petroleum & fertilizer products, which rose 128.6% and 90.8%, respectively.
That more than offset the value of imports, which also increased, but at a lesser rate. Imports value increased due to an increase in prices of some commodities, such as iron by 144.9% and crude oil by 174%.
In general, the value of exports reached $5.48 billion, while imports reached $7.74 billion.
Why this matters
This is the second month in a row in which the trade balance deficit decreases, after it decreased in February by 29.4% on an annual basis
