Trade balance deficit decreases

Trade balance deficit decreased during the period from January to February 2003 at 44% to be $ 669 million compared to $ 1186 million during the same period last year, said a recent report by the Ministry of Foreign Trade.

Egyptian exports upped by 45% to be S 1001 million. Non-petroleum exports increased by 33% hitting $ 624 m. whereas imports decreased to be $ 1679 m., 11%. The trade balance has improved starting fiscal year 2002/2003 when the deficit decreased by 10% to be $4,9 billion due to a 28% like in exports, i.e. $3,3 billion.