Egypt Trade Deficit Down

Egypt’s trade deficit was down 3.1% in August compared to the same month last year, reaching EGP 37.8 billion ($2.45 billion), the state’s statistics body CAPMAS said in a Monday statement, Al Ahram reported. On a monthly basis, the trade deficit has increased from EGP 30.9 billion in July. Exports have increased in August year-on-year by 22.9% to reach EGP16.7 billion, CAPMAS reported, with fertilizers increasing by 87.9% and crude oil by 16.6%. Imports in August have increased year-on-year by 3.6% to reach EGP54.4 billion as petroleum products increased by 22%.