Egypt's exports increase 4.6pc

RIYADH, Aug 07 (Arab News): Egypt's exports rose by 4.6 per cent year-on-year in May to reach $4.25 billion, supported by a significant uptick in petroleum products and ready-made garments.
The latest monthly bulletin released by the Central Agency for Public Mobilization and Statistics showed that petroleum product exports rose by 53.5 per cent, while overseas sales of ready-made garments climbed by 32.8 per cent.
Egypt saw export growth in pasta and various food preparations, up by 21.7 per cent, along with raw forms of plastics, which increased by 5.7 per cent.
Egypt's latest trade figures come amid currency pressures, inflation, and shifting global demand, with policymakers focusing on boosting exports and curbing non-essential imports to stabilize reserves and improve the balance of payments. The North African nation's trade performance reflects broader trends in global commerce as regional economies, including Egypt, work to diversify export markets and enhance manufacturing competitiveness.
Egypt's trade deficit narrowed to $3.41 billion in May, down from $4.15 billion in the same month of 2024, according to CAPMAS. In parallel, imports fell by 6.7 per cent to $7.66 billion, compared to $8.21 billion in the previous year, driven by lower purchases across several categories.