Egypt’s September trade deficit surges to 70.9 percent – Report

Egypt’s balance of trade deficit recorded a 70.9 percent hike last September, registering 27.9 billion EGP ($3.9 billion) compared with 16.3 billion EGP ( 1 US$= 7.15 EGP) in the same month a year earlier.According to the Central Agency for Public Mobilization and Statistics (CAPMAS) in a report on Sunday "exports fell to 14.6 billion EGP in September, down from 16.6 billion EGP in September 2013".

The value of imports surged to 42.5 billion EGP during September, compared to 32.9 billion EGP in the corresponding month last year due to the increase in the value of some commodities such as petroleum products (diesel and butane), steel and iron, in addition to individual cars and spare parts.