CAPMAS: Trade balance deficit surges by 13.9% in November 2014

Egypt's trade balance deficit increased by 13.9 percent in November 2014 reaching LE26.46 billion ($3.47 billion) compared to LE23.26 bn ($3.05 billion) in the same month in 2013, according to the last bulletin released by the central agency for public mobilization CAMPAS.
The report read that the country's exports inched up by 3.4 percent, recording approximately LE16.17 billion in November 2014 compared to LE15.64 billion in the same month in 2013.
The report attributed the jump in exports to the decrease in the value of some commodities including crude oil, which declined by 25.6 percent while plastics of primary forms plummeted by 97.5 percent.
The value decrease in exporting commodities included miscellaneous edible preparations, which plunged by 35.4 percent, flat-rolled production of iron or steel, decreasing by 12.3 percent, and articles of plastic, falling by 3 percent.
Meanwhile, exports of some commodities declined in November 2014 compared to the same month of the previous year.  Petroleum products fell by 38.4 percent, ready-made clothes decreased by 7.6 percent, dairy products fell by 0.3 percent, carpets and kelem by 6.6 percent and fertilizers by 60.8 percent.
On the other side, the value of imports reached LE42.65 billion marking 9.6 percent increase during November 2014 compared to LE38.90 billion for the same month of the previous year.
The CAMPAS report attributed the import increase to the decrease of value of some commodities such as wheat, petrolium products,  crude oil, motor vehicles and crude forms of non-monetary gold.
On the otherhand, imports of some commodities decreased compared to November 2014, including the primary forms of iron or steel, plastics of primary forms by, corn by, wood, and organic and non-organic compound.
In December, CAPMAS reported that Egypt’s trade balance defecit reached LE27.9 billion in September compared to LE16.3billion in September 2013, marking marks a 70.9 percent year-on-year increase.

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