The trade balance deficit rose 0.6 per cent in August

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On Sunday, the Central Agency for Public Mobilization and Statistics (CAPMS) said that the trade balance deficit rose 0.6 per cent in August to record $4.18 billion, compared to $4.15 billion in August 2021.

CAPMS said that the country’s exports decreased by 7.6% to $3.33 billion in August 2022, compared to $3.61 billion in August 2021. Among the commodities whose exports decreased were petroleum products by 19.8%, crude oil by 49%, plastics by 3.6%, and foodstuffs by 17%. Among the commodities whose exports increased were natural gas and liquefied gas by 179.1%, fertilizers by 25.4%, clothes by 12.1%, and fruits by 72.8%.

Imports also decreased by 3.2% to a record 7.51 billion dollars in August 2022, compared to 7.76 billion dollars in August 2021. Among the commodities whose imports decreased were medicines by 21.8%, raw materials of iron or steel by 4.7%, corn by 16%, and soybeans by 7.5%. Among the commodities whose imports rose were crude oil by 91.8%, petroleum products by 35.2%, wheat by 79%, and plastics by 7.2%.