Egypt’s trade balance deficit plunged 47% year on year (YoY) reaching $2.48 billion in January of this year, compared to a deficit amounting to $4.68 in the same month of 2022, according to the country’s stats body CAPMAS.
The value of Egyptian exports declined by 7.1% YoY in January, reaching $3.85 billion.
Likewise, imports fell by 28.2% YoY hitting $6.33 billion.