Trade balance deficit and imports down, exports up

The latest 1999/2000 report on the evaluation of the Egyptian economic performance, issued by the Egyptian Cabinet Information and Decision Support Center (IDSC) highlighted the remarkable growth of foreign trade over the first ten months of the year 2000.

The recent statistics showed that trade balance deficit has decreased from L.E. 36 billion in 1999 to L.E. 26 billion in 2000. Exports have amounted to some L.E. 4 billion in 2000, scoring an increase of 41% while imports fell to some L.E. 5.7, or 13%, resulting in the said decrease in trade balance deficit by 28%.