Egypt's merchandise trade deficit narrowed year-on-year in March by 3.9 per cent, according to data released by the Central Agency for Public Mobilization And Statistics (CAPMAS) on Tuesday.

The trade balance deficit declined to LE11.24 billion (US$1.88bn) in March 2011, compared to LE11.7 billion ($1.96bn) in March the previous year.

Exports of goods grew 26.4 per cent to reach LE16.58 billion ($2.78bn) in March 2011, against  LE13.12 billion ($2.199bn) last year.

Imports also rose 12.1 per cent to reach LE27.8 billion ($4.66bn) up from LE 24.8 billion ($4.155bn) in March 2010.