Cairo – Mubasher: The deficit in Egypt’s trade balance fell by 5% year-on-year during the first quarter of the new fiscal year 2017/2018, according to data released by the Central Bank of Egypt (CBE) on Sunday.
The most populous Arab country’s trade deficit recorded $8.9 billion in the three-month period from July to September, down from $9.4 billion in the same period of the previous fiscal year.
The CBE attributed the deficit decline to higher receipts from exports by $578 million.
Export revenues rose by 11% to $5.8 billion in the first quarter of FY17/18 from $5.3 billion in the year-ago period, according to the data.
