Egypt’s Trade Deficit Shrinks 63.5% in June – CAPMAS

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Egypt’s trade deficit for June retreated 63.5% from a year earlier, the state-run statistics body CAPMAS announced Sunday, with exports hiked by 3.8% and import declined by 35.5%.

According to the monthly economic bulletin issued by the Central Agency for Public Mobilization and Statistics (CAPMAS), the trade deficit for June stood at EGP 9.09 billion, down from EGP 24.88 billion in the same month a year earlier.

Exports reached EGP 18.42 billion in June 2014, rising from EGP 17.75 billion in the same month a year earlier, due to higher value on outputs such as fruit, crude oil and petroleum products (jet fuel).
On the other hand, the value of imports fell to EGP 27.51 billion during June 2014 compared to EGP 42.63 billion in June 2013 due to the decrease in the value of commodities such as wheat, petroleum products (diesel and gas), primary form plastics, chemicals and meat.