Egypt's trade deficit declines in October
Ahram Online, Tuesday 22 Jan 2013
CAPMAS says Egypt's trade deficit decreases by 34 per cent in October 2012 over the same month of last year


Egypt's trade deficit has reached EGP13.68 billion for October 2012 versus EGP20.97 billion a year earlier.



On a monthly level, the trade deficit dropped from EGP16.5 million in September.



Both exports and imports dropped during October. Greater drop of imports was behind the deficit decrease.



Exports from Egypt declined by 10.4 per cent to EGP13.97 billion in October due to a decline of prices of a set of merchandises including oil, textile, furniture and medicines according to CAPMAS.



On the other hand, imports decreased by some 25 per cent. CAPMAS report attributed the imports in decrease of other goods prices like wheat, maize, woods and iron.



Data from Egypt's Central Bank shows a decline of trade deficit during the first quarter of 2012/2013, July through September, to $6.8 billion versus $8.23 over the same period of last year.

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