Egypt’s trade deficit drops by 24 percent in 1H 2003
Egyptian exports totaled 18.1 billion Egyptian pounds ($293 million) in the first half of 2003 compared to EP 10.8 billion for the same period last year, a 66 percent increase, reported Al-Alam Al-Youm . The Egyptian fiscal year runs from July 1 until June 30.
Imports increased by 12 percent in the first half of the year, reaching EP 30.5 billion, leading to a 24 percent drop in the balance of trade deficit to EP 12.4 billion.
Egypt’s balance of trade reached $1.6 billion in the third quarter of fiscal year 2001/2002 compared to $2.3 billion during the same period in the previous year, as imports continue to decline faster than exports. — (menareport.com)
© 2003 Mena Report (www.menareport.com)