Egypt's trade deficit falls 22.5% in July

Egypt's trade balance deficit dropped to LE19.46 billion ($2.72 billion) in July 2014, state-run statistical body CAPMAS reported on Monday.

The figure represents a 22.5 percent decrease compared to the same month in 2013, when the deficit stood at LE25.11 billion ($3.51 billion).

July, which marks the beginning of the current fiscal year, saw a rise in Egypt's exports to LE13.05 billion ($1.83 billion) and a fall in imports to LE32.51 billion ($4.55 billion).

During this period, Egypt exported petroleum products, crude oil, ready-made clothes, fertilisers and carpets.