Egypt's exports of natural gas drastically declined by 73.4 percent in July compared to the same month of last year, according to the latest report on economic and social indicators released by the state-run Information and Decision Support Centre (IDSC), released Sunday.

The report said that Egyptian exports of natural gas in July were worth some $25.3 million, against $95.2 million in July of 2013.

Natural gas production in the 2013 period reached 2.99 million tons compared to 3.6 million tons year-on-year.

Domestic consumption amounted to 2.9 million tons this July.

Some 65.2 percent of the produced natural gas was consumed by the electricity sector, a higher share from 58 percent a year earlier.

Meanwhile, the country's exports of crude oil reached $350.7 million in July of this year, a 10 percent drop from $389.8 million in July 2013.

In May, the petroleum ministry forecasted total natural gas production to increase 1.7 percent to reach 5.4 billion cubic feet per day in the current fiscal year, FY 2014/15, which started in July, compared to the past fiscal year.