Egypt’s trade deficit fell 26 percent to 27.9 billion Egyptian pounds in August of 2015 down from 37.5 billion pounds in the same month last year, official statistics agency CAPMAS reported Wednesday.
The trade deficit fell despite a drop in Egyptian exports due to a higher decline in imports.
The global decline in commodities prices lead to a drop in Egyptian exports to 13.1 billion pounds in August down 14.4 percent from 15.3 billion pounds registered in the same month the prior year.
Meanwhile, imports’ value declined by 22.5 percent to 41 billion pounds, from 52.9 billion pounds during the same month last year.
CAPMAS attributed the fall in imports to the decline in the value of some products including raw materials and foodstuff.
source: Ahram Online
