Egyptian commercial deficit rises to 28.67 billion pounds

The Egyptian commercial deficit rose in the first 11 months of 1997 to 28.67 billion pounds, up from 28.24 billion pounds in the same period in 1996. Statistics from the Egyptian Cabinet stated that annual inflation has decreased to 4% from 5.4% in 1996.

The Cabinet's monthly report for March said that Egyptian exports during the first 11 months of 1997 were worth LE 12.13 billion, compared to 11.31 billion in the same period of 1996, while the imports totaled LE 40.8 billion in the same period, up from LE 39,55 billion pounds in 1996, thus deficit in the balance of the trade rose to LE 28.67 billion, compared to 28.24 billion pounds in the same period of 1996.

Egypt's exports of raw materials and cotton were worth LE 958.9 million, up from LE 991.40 million.