31.5% decline in trade deficit in April

The Central Agency for Public Mobilization and Statistics (CAPMAS) has recorded a decline in the trade balance deficit for April.

The deficit declined by 31.5 percent to US$14.18 billion, compared to US$20.71 billion at the same time last year.

The deficit in April 2010 stood at US$10.05 billion.

In its monthly report, CAPMAS said exports rose by 17.1 percent to US$18.45 billion, compared to US$15.75 billion in April of last year, attributing it to an increase in prices of crude oil, fertilizers, garments and foodstuffs.

Imports went down by 10.5 percent to US$32.63 billion, compared to US$36.46 billion in April 2012, due to decreasing prices of steel, plastics, organic and inorganic material, corn and wood.

Edited translation from Al-Masry Al-Youm

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