Egypt's trade deficit down 26% in August

Ahram Online , Wednesday 18 Nov 2015

A cargo ship makes its way along the Suez Canal (Photo: Reuters)

Egypt's trade deficit fell 26 percent to LE27.9 billion in August of 2015 down from LE37.5 billion in the same month last year, official statistics agency CAPMAS reported on Wednesday.

The trade deficit fell despite a drop in Egyptian exports due to a higher decline in imports.

The global decline in commodities prices  lead to a drop in Egyptian exports to LE13.1 billion in August down 14.4 percent from LE15.3 billion registered in the same month the prior year.

Meanwhile, imports' value declined by 22.5 percent to LE41 billion, from LE52.9 billion during the same month last year.

CAPMAS attributed the fall in imports to the decline in the value of some products including raw materials and foodstuff.


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