Egypt's trade deficit down 19.9pct year-on-year in October

Egypt's trade deficit dropped 19.9 percent in October 2016 compared to the same month in 2015, reaching EGP 27.83 billion, the state's statistics body CAPMAS announced on Tuesday.
On a month over month basis, the trade deficit increased in October 2016, compared to EGP 22.66 billion registered in September.

Exports increased by 21.4 percent year-on-year in October, to reach EGP 16.22 billion, with exports of fertilizers increasing by 196.5 percent and crude oil by 71.1 percent.

However, exports of fresh onion and dairy products declined by 48 percent and 30.6 percent respectively compared to October 2015.

Imports in October 2016 slowed by 8.4 percent to reach EGP 44.05 billion, compared to EGP 48.11 billion for the same month in 2015.