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Egypt's trade deficit surged 48% in June
- Egypt: Thursday, September 20 - 2012 at 10:34
According to Egypt's Central Agency for Public Mobilisation and Statistics (CAPMAS), the country's trade deficit nearly doubled, reaching EGP17.6bn in June, up 47.9% over the EGP11.9bn recorded in the same month last year, the Daily News Egypt has reported. Exports have plunged by 18%, falling to EGP14.6bn, a decrease of EGP3bn compared with the same month for the previous year. The drop was attributed to the fall in the cost of products such as crude oil, textiles, raw plastics, fertilisers and construction materials.
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