Egypt's deficit of the trade balance reached LE19.46 billion during July 2014 versus LE25.11 billion for the same month in 2013, showing a decrease of 22.5 percent, according to a statement released by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Monday.
CAPMAS attributes the decline of the trade deficit to exports increasing by 12.7 percent and the value of imports decreasing by 18.8 percent.
The value of increased exports reached LE13.05 billion during July 2014 versus LE14.94 billion for the same month of the previous year due to the increase the value of some commodities such as petroleum products, crude oil, ready-made clothes, fertilizers and carpets, CAPMAS reported.
Meanwhile, the value of imports reached LE 32.51 billion during July 2014 versus LE40.05 billion for the same month of the previous year due to the decrease the value of some commodities such as petroleum products, primary forms of iron or steel, corn and plastics in primary form.
