Egypt's trade deficit decreases in January

Ahram Online, Sunday 21 Apr 2013

Increase in exports accompanied by a slight decrease in imports led to a reduction in Egypt's trade deficit compared with last year

Egypt's trade balance deficit decreased by 12 percent in January 2013 over the same month in 2012. According to data released by the state-run statistical body CAPMAS, the trade deficit registered LE17.79 billion ($2.5 billion at the current exchange rate) in January 2013 versus LE20.2 billion a year earlier.

An increase in exports by 15.2 percent was behind the decreased deficit. Exports reached LE15.68 billion in January 2013 due to increase of prices of goods like crude oil, oranges, rice and ceramics.

Meanwhile, imports decreased by 1 percent to LE33.47 billion due to a decrease in prices of some goods like raw materials used to produce steel and iron, chemicals, wood and passenger cars, according to CAPMAS.

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