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2.3% increase in exports, decrease in trade balance deficit by $2.147bn - Daily News Egypt

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2.3% increase in exports, decrease in trade balance deficit by $2.147bn

Imports also witnessed a decline of 3% to record $57.709bn compared to $59.336bn during the same period last year with a decrease of $1.660bn.


Egyptian non-oil exports achieved a significant increase during the first 10 months of the current year by 2.3% to record $21.322bn compared to approximately $20.835bn during the same period last year.

Imports also witnessed a decline of 3% to record $57.709bn compared to $59.336bn during the same period last year with a decrease of $1.660bn.

The report issued by the General Organization for Import and Export Control (GOEIC) showed the increase in the volume of exports was reflected positively on the decrease in the trade deficit, which decreased by $2.147bn, a decline of 6% over the same period last year.

The report attributed the decrease to efforts of Ministry of Trade and Industry to support local product and replace the same imported goods as part of its plan to deepen local manufacturing and promote foreign trade.

Topics: Exports trade

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https://wwww.dailynewssegypt.com/2019/12/06/2-3-increase-in-exports-decrease-in-trade-balance-deficit-by-2-147bn/
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