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FINANCIAL NEWS
Egypt’s trade deficit falls 16 percent to USD2.6bn
20 Jul 2016
(MENAFN) The deficit in Egypt’s trade balance dropped by 26 percent in April this year to USD2.6bn, compared with USD3.62bn in the same month last year.
Accordingly, the volume of Egypt’s foreign trade declined in April 2016 to USD6.41bn, against USD6.8bn a year earlier.
However, State’s exports volume increased by 14.1 percent, which reached USD1.86bn this year, compared to USD1.62bn in 2015.
The increase was due to the hike in exports value of some products; like oil products at 1.4 percent, fresh orange at 29.4 percent and fertilizers at 524.8 percent.
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