Egypt’s trade deficit registered approximately EGP 29.7bn as of June, compared to EGP 35.2bn in June 2015, a decline of 15.7%, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). The increase in the value of exports in June is owing to the increase in the value of some products, such as fertilisers, furniture, soap, and cleaning products, according to CAPMAS. CAPMAS noted that the value of imports decreased by 6.3% in June, recording EGP 46.8bn compared to EGP 50bn in June 2015. This was due to the decline in the value of some imports, such as oil products, iron and steel raw materials, and milk and dairy products. The value of certain imports did increase in June compared to June 2015, such as medicines, meat, and plastic in primary forms, according to CAPMAS.

Source: Daily News Egypt August 31, 2016 13:30 UTC