Govt report: April records LE17.5 bn trade balance deficit

Featured

Heat wave, warnings against sun exposure

Heat wave Thursday, warnings against sun exposure

Meteorologists project the beginning of a heat wave on Thursday, with temperatures expected to rise by eight to nine...

$President Mohamed Morsy speaks to the press at the Almaza airforce base after the release of the seven Egyptian soldiers on 22 May 2013\$

Morsy urges dialogue, calls on militants to turn in weapons

Egyptian President Mohamed Morsy has called on political powers and Egyptians to engage in dialogue and on militants...

A janitor sprays disinfectant at empty chicken cages in a traditional market in New Taipei city April 29, 2013. REUTERS/Pichi Chuang

China's bird flu outbreak cost $6.5 billion

The H7N9 virus appears to have been brought under control in China largely due to restrictions at bird markets,...

An Egyptian army vehicle keeps its position close to the Rafah border crossing with the Hamas-run Gaza Strip

Wednesday’s papers: Sinai kidnapping dominates headlines, power cuts provoke anger

Sinai kidnapping crisis continues to generate headlines in both Wednesday’s state-owned and independent dailies...

Hamas policemen stand in front of Egyptian soldiers as they prevent Palestinians from coming close to the iron gate of Rafah border crossing with Egypt in the southern Gaza strip, June 4, 2011. Egyptian officials at the border with Gaza barred Palestinians from crossing, but later allowed them passage out of Egypt only,

Egypt reopens Rafah crossing following release of kidnap victims

The Rafah border crossing between Egypt and the Gaza Strip reopened on Wednesday morning after five days of closure,...

Power outage at Cairo airport

Power went out more than once at the Cairo International Airport on Wednesday, causing some X-ray machines to go out of...

Govt report: April records LE17.5 bn trade balance deficit

On

Mon, 30/07/2012 - 12:42

Printer-friendly versionSend to friend

Mohamed Maarouf

Prev Next Pause Play

MENA

Egypt’s trade balance deficit jumped by 79.6 percent from LE9.7 billion in April 2011 to LE17.5 billion this April, according to a government report released Monday.

The Central Agency for Public Mobility and Statistics said in a report that exports declined by 13.9 percent, bringing in LE51.1 billion from April 2011 to April 2012. The figure is down from the LE17.6 billion brought in by exports the previous year.

The agency attributed the drop to a decline in the value of some export commodities, such as certain petroleum products, crude oil, fertilizer, ready-made clothing, dairy and oranges.

However, the report also highlighted a 19.4 percent increase in imports, up from LE27.3 billion to LE32.6 billion in the same time period.

According to the report, the increase was due to a rise in the value of some imported commodities, such as other types of petroleum products, raw steel and plastics, chemical and organic substances, and pharmaceuticals.

Edited translation from MENA