Egypt's trade deficit slows 21% in December 2013 Y-o-Y

Ahram Online, Monday 24 Mar 2014

Deficit drops along with imports and exports

Port saied port (Photo: Mohamed Nada)

Egypt's trade balance deficit reached LE18.04 billion ($2.5 billion) in December 2013, state-run statistical body CAPMAS reported on Monday.

The figure represented a 21.2 percent drop compared to the same month in 2012, when the deficit stood at LE22.9 billion ($3.2 billion).

The value of Egypt's exports in November 2013 declined three percent from the previous year, recording LE16.8 billion ($2.4 billion).

Among the main products to suffer a drop in exports, according to CAPMAS, were petroleum products, crude oil, fertilisers, edible oil, and margarine.

Similarly, the value of imports also shrank by 13.6 percent to reach LE34.8 billion ($5 billion) compared to LE40.3 billion ($5.7 billion) in November of the previous year.

Imports included wheat, crude oil, petroleum products.

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