Turkey-Egypt trade balance deficit drops 25%: minister

The deficit in Egypt-Turkey trade balance dropped by 25.5 percent in January-September 2016 to US$996.6 million from US$1.3 billion at the same period of 2015.

Egyptian Trade Minister Tarek Qabil stated Wednesday that Egyptian exports to Turkey witnessed a 13.2 percent leap during the first nine months of 2016

According to the report Qabil received from state’s commercial service office in Istanbul on Egypt’s nine-month exports to Turkey, total volume of Egypt’s exports to Turkey reached US$1.01 billion opposed to US$898 million at the same period of 2015.

Meanwhile, Egyptian imports from Italy declined by 9.8 percent in January-September 2016 to US$2.01 billion versus US$2.3 billion a year earlier.

On other side, Chairman of Egyptian Commercial Services office (ECS) Ahmed Antar said that the increase in exports volume was due to the promotional efforts exerted to introduce Egyptian product to Turkish consumers.