Egypt's Trade Deficit Drops $2.6b
Egypt's trade deficit dropped by nearly £E10 billion ($2.6 billion) last year, reported the weekly Middle East News.
The trade deficit stood at £E32.42 billion ($8.5 billion) in 2000, down from $42.35 billion in 1999, said the weekly, quoting a government source.
Revenues from exports, including crude oil, rose from $12.5 billion to $16.23 billion, while spending on imports, including refined oil products, dropped from $54.4 billion to $48.65 billion during the same period.
Egypt has, for the last two years, faced an economic crisis marked by a cash crunch, said the weekly – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)