Trade deficit fell by 15.7% in June: Egypt’s CAPMAS

Egyptian trade balance deficit declined by 15.7 percent in June 2016 to 29.7 billion Egyptian pounds (US$3.3 billion) versus 35.2 billion a year earlier.

The monthly bulletin of state-run statistical body CAPMAS on foreign trade showed that Egypt’s foreign trade volume dropped to 63.9 billion pounds in June 2016 opposed to 64.8 billion pounds a year earlier, marking a 1.4 percent drop.

The report stated that Egyptian exports volume rose by 15.9 percent to 17.1 billion pounds in June 2016 compared to 14.8 billion in June 2015.

Meanwhile, the total volume of Egypt’s imports fell 6.3 percent in June 2016 to 46.8 billion pounds from 50 billion pounds at the same period of 2015, the CAPMAS announced.