Egypt's trade deficit grows 28.7% in May: CAPMAS

Ahram Online , Sunday 23 Aug 2015

petrol station
People jostle for a fuel dispenser nozzle as a worker fills the tank of a car at a petrol station in Cairo (Photo: Reuters)

Egypt's trade balance deficit reached LE25.4 billion in May of 2015, representing a 28.7 percent increase compared to LE19.7 billion in the same month last year, the state-run statistical body CAPMAS reported on Sunday.

State exports valued LE16.2 billion in May, declining from LE18.9 billion in May 2014, due to a drop in the price of certain goods such as petroleum products, manufactured clothes and primary form plastics.

Meanwhile, imports' value rose by 7.5 percent, jumping to LE41.6 billion, from LE38.7 billion during the same month last year.

According to the report, the rise in imports' value was due to the increase in the value of certain goods such as vehicles.



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