Egypt's trade deficit increases

CNC
Added On July 10, 2018

Now to Egypt, its trade deficit increased by 4.1 percent during April, compared to the same month of last year.
 
Economy Report takes you there.
 
According to CAPMAS -- Egypt's state statistics body -- exports hit a record 2.3 billion dollars in April.
 
That's up 3.7 percent compared to last year, helped by a 28 percent hike in the price of fresh oranges, and the selling price plastic more than doubling.
 
However, the rise was more than offset by a 3.9 percent increase in the amount of imports. Egypt imported 5.6 billion worth of goods in April.
 
That was pushed up by price rises in a number of key goods. Such as iron - up by 66 percent, and motor vehicles - up by 127 percent.
 
That means that Egypt's trade deficit widened again in April, hitting 3.3 billion dollars. 
 
And the country imports more than double than what it sells to the rest of the world.