Trade deficit down by 33% in 9 months: Kabil

CAIRO – 26 October 2017: The trade deficit during the nine months of 2017 has declined by 33 percent compared to the same period of 2016, Trade and Industry Minister Tarek Kabil announced on Thursday.

The deficit stood at $23.390 billion during the first nine months of the current year, compared with $34.860 billion in the same corresponding period of 2016, he revealed.

In a report about indicators of foreign trade performance, Kabil said that Egypt's non-petroleum exports have tangibly risen from January to September 2017 compared with the same period last year reaching $16.490 billion , an increase of 11 percent.

Egypt's imports during the nine months have decreased by 20 percent to hit $39.880 billion compared to $49.740 billion in the same period of the last year, Kabil added.