CAPMAS: Trade balance deficit retreats by 36.2% in May

CAIRO, July 29 (MENA) - The trade balance deficit has retreated by 36.2 percent to reach 2.59 billion dollars during May 2020, compared with 4.05 billion during the same month in 2019, said the Central Agency for Public Mobilization and Statistics (CAPMAS) on Wednesday.

In its monthly report on foreign trade for May 2020, CAPMAS said exports dropped by 42.4 percent to reach 1.57 billion dollars in May 2020 against 2.73 billion in the same month of last year.

The report attributed this decline to a drop in the value of exports of certain commodities.

Meanwhile, imports recorded 4.16 billion dollars in May 2020 down from 6.78 billion in the same month in 2019, which represents a 38.7-percent decline.