Egypt’s trade deficit rises 10% in March: CAPMAS

Egypt’s trade deficit rose ten percent to $4.15 billion in March from $3.77 billion last year, the state-owned statistics agency CAPMAS said on Wednesday.

Exports dropped 3.9 percent year-on-year to $2.58 billion in March, CAPMAS said in a monthly report published on Wednesday. It attributed the decline to a decrease in exports of some products including ready-made garments, crude oil, oranges and potatoes.

Imports went up 4.3 percent year-on-year to $6.7 billion in March. This was driven by an increase in imports of plastics, chemicals, wheat and meat.

The trade deficit stood at $37.3 billion in the 2017/2018 fiscal year, compared with $35.4 billion the year before.

Source: Ahram Online