Egypt says trade deficit down by 12%
The trade deficit narrowed by 12 % in January-May 2004 to L.E. 1.6 billion compared with L.E. 1.82 in the same period last year, a report released by the Egyptian Foreign Trade Ministry said.
Meanwhile, export went up 18 % to hit $ 3.7 billion, and imports posted a 6 % rise to $ 4.78 billion, the monthly report by the Ministry indicated.
Exports by the free zones amounted to $ 892 million during the first five months of this year, the report added. (menareport.com)
© 2004 Mena Report (www.menareport.com)