Egypt’s trade deficit dropped by 22.1 per cent in September 2012 compared to the same month last year. It reached LE16.65 billion compared to LE 21.26 billion in September 2011, the state statistics agency CAPMAS reported.
This is the third consecutive monthly fall in the trade deficit after it fell in July and August. The trade deficit grew for six consecutive months until June 2012.
A 7.2 per cent fall in imports drove the drop, while exports rose by a vigorous 14.7 per cent.
Imports fell due to a drop in the price of certain commodities, especially wheat, corn, chemical products, cars and oils.
Exports, meanwhile, rose mainly due to a rise in the prices of certain commodities including petroleum products, crude oil and nutritional products.