Official Data: Egypt’s Trade Deficit Hit EGP17 bln In Jan

The deficit of Egypt’s trade of balance recorded as to EGP17 billion in January 2013 on account of the wide gap between the Egyptian exports and imports, according to some official data from the Foreign Trade Sector to “Amwal Al Ghad”.

The Egyptian exports in January, pursuant to the data, amounted to EGP 12 billion, whereas the imports hit EGP 17 billion to represent the trade of balance’s deficit at that period.

Owning to this value, Egypt’s trade deficit went down by 45% during January, after it was EGP 31 in January 2012. This deficit transpired due to the currency devaluation.