Egypt's trade balance deficit reached LE16.85 billion ($2.4 billion) in October 2013, state-run statistical body CAPMAS reported on Sunday.

The figure represents a 17.9 percent drop compared to the same month the previous year, when the deficit stood at LE20.52 billion ($2.9 billion).

The value of Egypt's exports in October 2013 fell to LE14.72 billion ($2.1 billion), down 0.7 percent from the LE14.82 billion ($2.13 billion) they had recorded in October 2012.

Among the main products to suffer a drop in exports, according to CAPMAS, were petroleum products, wax of mineral materials, fertilisers and liquefied propane.

The value of imports also declined by 10.6 percent to reach LE31.57 billion ($4.5 billion) compared to LE35.34 billion ($5.07 billion) in October of the previous year. The value of some imported commodities fell; this includes corn, organic and non-organic compounds and forms of iron and steel petroleum.