Egypt trade deficit rises by over 40%
Egypt's CAPMAS reported on Sunday that the value of exports reached LE12.754 billion in October 2010, versus LE10.434 billion in October 2009, i.e. an increase of 22.2%. This hike was due to the increased export value of some commodities such as petroleum products, crude petroleum, readymade wear, pastry and variety of food preparation and propane canisters.
Meanwhile, imports value reached LE30.234 billion in October 2010, versus LE22.690 billion in October 2009, say an increase of 33.2%. This rise was due to the increased import value of some commodities such as petroleum products, wheat, soap & cleaning products, crude Sugar and plastics.
All in all, Egypt's trade balance deficit amounted to LE17.480 billion in October 2010 versus LE12.256 billion in October 2009, say an increase of 42.6%.