Egypt’s trade deficit declined in December 2016 by 40.5% to EGP 2.38 billion, compared to EGP 4 billion in December 2015, according to a report by the Central Agency for Public Mobilisation and Statistics (CAPMAS) on Sunday.
The country’s exports declined in December 2016 by 1.3% to EGP 2.01 billion from EGP 2.04 billion in December 2015, due to a 29% decrease in crude oil exports and 15.8% in fertiliser exports. Meanwhile, pharmaceutical exports grew in December 2016 by 12.1% year-on-year, while furniture exports rose 8.5% year-on-year. Imports declined 27.3% in December 2016 to EGP 4.39 billion, versus EGP 6.03 billion in the corresponding month of 2015.
Egypt’s exports rose in 2016 to EGP 20.285 billion from EGP 18.670 billion in 2015.
