CAIRO: The trade deficit declined 12 percent to hit 23.55 billion EGP (U.S. $3.38 billion) in November, compared to 26.77 billion EGP to November 2012, the Central Agency for Public Mobilization and Statistics announced Monday.
The cost of exports dropped to 15.11 billion EGP in November, registering a 2 percent fall, compared to 15.42 billion EGP in the same month of 2012, CAPMAS added in its Monthly Bulletin for Foreign Trade, released Monday.
CAPMAS attributed the decline to the price fall of some commodities such as petroleum products, fertilizers, fresh fruits and garments.
The total cost of imports also dropped 8.4 percent, totaling 38.66 billion EGP ($5.55 billion) in November, compared to 42.19 billion EGP in November in 2012, according to CAPMAS’s bulletin, citing price fall of some commodities like wheat, crude oil, oil products, drugs, individual cars.
Originally published in Youm7.