Cairo - Mubasher: Egypt’s trade deficit dropped 26% year-on-year to $12 billion in the first 11 months of 2017, trade minister Tarek Kabil said in a statement on Monday.
Egyptian exports rose by 10.8% to $20.4 billion in the 11-month period, compared to $18.4 billion in the prior year period, Kabil added.
Exports are projected to grow by 10% to $22.4 billion at the end of 2017, as compared with $20.4 billion in 2016, the minister highlighted.
On the other hand, total Egyptian imports stood at $51 billion in the January-November period, against $61 billion in the corresponding period of 2016, he stressed.
Imports are expected to fell by 15% to about $56 billion at the end of 2017, from $66 billion in 2016, he noted.
The minister last said that Egypt’s trade deficit retreated by 33% year-on-year to $34.86 billion in the first nine months of 2017 from $23.39 billion.
