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Egypt Trade Deficit Down 19.9%

Egypt Trade Deficit Down 19.9%Egypt Trade Deficit Down 19.9%

Egypt’s trade deficit dropped 19.9% in October 2016 compared to the same month in 2015, reaching EGP 27.83 billion ($1.54 billion), the state’s statistics body CAPMAS announced on Tuesday, Ahram reported. On a month over month basis, the trade deficit increased in October 2016, compared to EGP 22.66 billion registered in September. Exports increased by 21.4% year-on-year in October, to reach EGP 16.22 billion, with exports of fertilizers increasing by 196.5% and crude oil by 71.1%. However, exports of fresh onion and dairy products declined by 48% and 30.6% respectively compared to October 2015.

 

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