Trade deficit rises 43.1 percent reaching 45.2 billion pounds

The information center of the Egyptian Cabinet confirmed that the Egyptian trade balance recorded a deficit of 45.2 billion pounds during last year, an increase of 43.1% from 1997.

The monthly economic report from the center stated that Egypt's exports during 1998 amounted to 10.8 billion pounds, in comparison to 13.3 billion pounds last year, a reduction of 18.5%.

It also added that imports increased last year amounting to 56 billion pounds, in comparison to 44.9 billion pounds in 1997.

The report also referred a fall in the number of ships passing through the Suez Canal during January and February to 2,159 ships in compared to 2,197 ships in the same two months last year.

The report also confirmed that the inflation's rate was raised by 3,8% during last January in comparing to the same month of last year.

The report said that production of Egyptian petroleum went down by 1% during the current year's first two months in comparison to the same two months last year.