Egypt's trade deficit grows 28.7% in May

Egypt's trade balance deficit reached LE25.4 billion in May of 2015, representing a 28.7 percent increase compared to LE19.7 billion in the same month last year, the state-run statistical body CAPMAS reported on Sunday.

State exports valued LE16.2 billion in May, declining from LE18.9 billion in May 2014, due to a drop in the price of certain goods such as petroleum products, manufactured clothes and primary form plastics.

Meanwhile, imports' value rose by 7.5 percent, jumping to LE41.6 billion, from LE38.7 billion during the same month last year.