CAIRO: The trade deficit decreased by 43.3 percent in February 2014 to hit 11.72 billion EGP compared to 20.66 billion EGP during February 2013, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced Saturday in its monthly bulletin.
According to the report, exports amounted to 16.03 billion EGP ($2.24 million) during February 2014 in comparison to 17.83 billion EGP in February 2013, due the reduction of the value of some commodities, like crude oil.
Imports amounted to 27.75 billion EGP during February 2014 in comparison to 38.49 billion EGP in February 2013 due to the reduction of some commodities’ value, the report stated.
The trade deficit dropped 2.7 percent to hit 21.59 billion EGP in January, compared to 22.2 billion EGP in the same month last year, CAPMAS announced May 16.
Egypt’s budget deficit recorded 163.3 billion EGP during 10 months of the current 2013/14 fiscal year, down from 183 billion EGP in the same period in 2013, the Ministry of Finance revealed last May.
In its quarterly bulletin, CAPMAS monitored a 46.5 percent decline in cotton exports, totaling 126.6 thousand metric kantars (rough equivalent of 5.7 million kilograms,) during the second quarter of the current agricultural year December/February, compared to 236.8 thousand kantars during the same period last year, according to a CAPMAS press statement issued last May.