CAIRO – Egypt’s trade balance deficit decreased 16.6% to $3.15 billion in October 2023, compared to $3.78 billion in the same month a year ago, according to a monthly bulletin issued by the Central Agency for Public Mobilization and Statistics.
Exports dropped 19.2%, amounting to $3.23 billion during October compared to $4 billion in October 2022.
This is due to a decrease in the value of exports of some commodities; notably crude oil by 61.7% and ready-to-wear clothes by 14.2%.
The bulletin recorded a decline in imports by 18 per cent, to hit $6.38 billion in October this year, compared to $7.78 billion in the previous year.
This is due to a decrease in the value of imports of some commodities, topped by petroleum products by 13.8%.
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