CAIRO: Egypt's economy continues to face hardships. A new report published by the Center for Public Mobilization and Statistics (CAPMAS) revealed that the country's trade deficit rose to 21.3 billion Egyptian pounds ($3.5 billion) in March of this year, or 95 percent higher than the same period the previous year. The report said that the total value of Egyptian products exported declined nearly 10 percent during the month. CAPMAS said the reason for the overall drop was due to lessening overseas demand for Egypt's petroleum products, garments, fertilizers, fruit and vegetables. The value of goods imported to Egypt, however, saw a dramatic climb, from 27.9 billion Egyptian pounds in March last year to 36.7 billion Egyptian pounds this year. CAPMAS figures suggest the climb in overall import values is tied to a weakening Egyptian pound and increased global prices for petrol, raw steel and wood. It also said that food prices in the country continue to rise, stretching already weakened buying power among the population. The report, which comes as new Egyptian President Mohamed Morsi takes over the reigns of the country this week, highlights the ongoing struggle to bolster the country's weak economy.