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FinancialNews


  • 27-01-18

    Egypt: 25 percent narrowed in trade shortfall

    (MENAFN) Egyptian Trade Ministry revealed trade deficit to have narrowed by 25% last year as a result of imports decrease and exports increase.

    In a statement, Trade Minister Tarek Kabil confirmed a 10% increase in non-oil exports to $22.4 billion last year, compared to $20.4 billion in 2016.

    However, he confirmed a 14% decline in imports to $56.8 billion last year, compared to $66.3 billion in 2016.

    Exports in Egypt have established new markets over the last year since the pound lost 50% of its worth amid a currency floatation in November 2016.

    MENAFN2701201800450000ID1096393822

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