The Central Bank: 55.7% of the increase in non-oil imports is caused by intermediate and investment goods

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The Central Bank revealed that 55.7% of the increase in non-oil imports was caused by a rise in the import of intermediate and investment goods and raw materials by about 4.565 billion dollars, while the total increase in imports was about 8.21 billion dollars.

The Central Bank said that imports of intermediate goods rose by $3.3 billion, raw materials by $736.3 million, and investment goods by $529.3 million, and these inputs contribute to improving the growth rate of the Egyptian economy.

The increase in imports was not matched by a similar rise in exports
The CBE revealed that the increase in the non-oil trade deficit increased by 16.7 percent to reach $42.1 billion compared to $36 billion, driven by an increase in non-oil imports by $8.2 billion to reach $62.1 billion, while exports increased by only $2.2 billion to record $20.1 billion. Most of the increase is in electrical appliances for home use, inorganic compounds, and wires and cables.

The “Central” article: 55.7% of the increase in non-oil imports was caused by intermediate and investment goods written in Al Borsa newspaper.