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Egypt's trade deficit falls for ninth consecutive month Trade balance deficit reached LE10.56 billion in April of this year, down by 51.9 percent from April 2013
Egypt's trade balance deficit reached LE10.56 billion ($1.5 billion) in April 2014, state-run statistical body CAPMAS reported on Wednesday. The figure represents a 51.9 percent drop compared to the same month in 2013, when the deficit stood at LE21.94 billion ($3.1 billion). The value of Egypt's exports in April 2014 also declined 12.1 percent from the previous year, recording LE16.56 billion ($2.3 billion). Among the main products to suffer a drop in exports, according to CAPMAS, were petroleum products, oranges and ready-made clothes. On the other hand, the value of imports also shrank by 33.5 percent to reach LE27.12 billion ($3.8 billion), compared to LE40.79 billion ($5.7 billion) in April of the previous year. Imports included wheat, iron, petroleum products and corn. In March, the trade deficit fell a mere 7.9 percent to reach LE20.5 billion ($2.9 billion) as compared to the same period a year earlier. Exports dropped 5.5 percent to LE18.03 billion on fewer shipments of crude oil, ready-made clothes and oranges. Imports for March declined 6.6 percent for the same period to LE38.53 billion on lower imports of petroleum products, iron and pharmaceuticals. http://english.ahram.org.eg/News/107969.aspx
