Egypt's trade deficit climbed by 19.7 per cent in June, reaching LE11.256 billion compared to LE9.4 billion in the same month in 2010, official statistics released today showed.

 

The value of exported goods increased by 31 per cent to reach LE17.768 billion in June against LE13.565 billion the previous year, which the report attributed to rises in prices of commodities like petroleum products, fertilisers, fresh fruit and ready-made garments.

 

Imports values increased too, by 26.4 per cent, reaching LE29.024 billion in June 2011, versus LE22.965 billion in June 2010. A growth in the prices of main imports such as raw materials for iron and steel, corn and plastics was also thought to be behind this rise.