Cairo – Mubasher: Egypt’s non-petroleum exports increased by 7% to $1.9 billion in May 2016, compared with EGP 1.7 billion for the year-ago month, said trade and investment minister Tarek Kabil.
The country’s aggregate exports in May rose by 3% year-over-year to $8.4 billion, Kabil added.
Building material exports made a big leap after growing 62% to $489 million compared with $302 million for the prior-year month, the minister indicated, adding that agricultural and medicine exports also rose by 16% to $273 million and 7% to $41 million.
On the other hand, imports largely declined to $1.9 billion in May, the minister stated, clarified that imports in the first four months of 2016 declined 19% year-on-year to $18 billion from $22.5 billion.
As result, trade deficit shrank 27.5% to $4.5 billion during the first four month as well.
Earlier, the head of Customs Authority, Magdy Abdel-Aziz, said trade deficit in the first half of 2015/16 edged down 1% year-over-year from $27.7 billion to $27.5 billion,
