Egypt's trade balance deficit declined by 63.5 percent in June 2014 compared to the same period last year, according to the monthly bulletin for foreign trade issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Sunday.
The deficit was LE9.09 billion ($1.3 billion) during June 2014 versus LE24.88 billion in June 2013.
"The trade balance deficit declined because exports increased by 3.8 percent and the value of imports decreased by 35.5 percent," (CAPMAS) said. "The value of exports increased by 3.8 percent as it reached LE18.42 billion during June 2014 versus LE17.75 billion for the same month of the previous year due to the increase in value of some commodities such as crude oil, petroleum products, fresh fruits, miscellaneous edible preparations, medicaments and pharmacy goods."
Meanwhile, the value of imports decreased by 35.5 percent as it reached LE27.51 billion during June 2014 versus LE42.63 billion in June 2013, mainly due to the decrease the value of some commodities.