Egypt’s October '10 trade deficit increased year-on-year by 42 per cent

Ahram Online, Monday 24 Jan 2011

Increase in deficit is mainly due to the overall increase of imports compared to exports, and the rise in imported commodities' prices, according to experts

The trade deficit widened to LE17,480 billion in October 2010, an increase of LE5 billion, or 42.6 per cent, year-on-year compared to October 2009.

"The increase in the trade deficit is due mainly to an increase in imports, which grew at a faster rate than exports, in addition to the increase in the value of imports as a result of global price increases in imported commodities," according to Beltone Financials.

Exports grew year-on-year by 22.2 per cent in October 2010, reaching LE12,754 billion, while imports grew by 33.2 per cent, reaching LE 30,234 billion.

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