Trade balance deficit down

A recent report by the Central Agency for Public Mobilization and Statistics (CAPMS) showed that trade balance deficit has went down during the first 10 months of the last year by L.E. 9.9 billion.

The report attributed that drop to the increase of total exports that amounted to L.E. 13.9 billion during the period from January to October, 2000 against L.E. 9.9 billion in the same period in 1999. On the other hand, imports fell from L.E. 39.7 billion versus L.E. 45.6 during the periods of comparison.

On his part, President of the CAPMS said that this drop of trade balance deficit is a positive trend and a step towards eliminating such deficit. He elaborated that some 50% of export increase had ben achieved by non-oil exports such as iron and aluminum products and wires, ready-made garments, cotton cloths, shoes, cosmetics, rise, soap, fertilizers, furniture, pharmaceuticals, tiles and sanitary ware. This is in addition to half-manufactured products.

Oil products and crude oil exports have increased by L.E. 1.8 billion and L.E. 264 million respectively. Moreover, coal exports soared by L.E.63 million.