Egypt’s trade deficit 28.7% up in May: CAPMAS

Egypt’s trade balance deficit reached 25.4 billion Egyptian pounds in May of 2015, representing a 28.7 percent increase compared to 19.7 billion pounds in the same month last year, the state-run statistical body CAPMAS reported  Sunday.

State exports valued 16.2 billion pounds in May, declining from 18.9 billion pounds in May 2014, due to a drop in the price of certain goods such as petroleum products, manufactured clothes and primary form plastics.

Meanwhile, imports’ value rose by 7.5 percent, jumping to 41.6 billion pounds, from 38.7 billion pounds during the same month last year.

According to the report, the rise in imports’ value was due to the increase in the value of certain goods such as vehicles.

Source: Ahram Online