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Tuesday, 29 October 2019

Egypt’s non-oil trade deficit narrows slightly to USD 32.19 bn in 9M2019

Egypt’s non-oil trade deficit narrowed slightly to USD 32.19 bn in 9M2019, down from USD 33.86 bn during the same period last year, according to a General Organization for Export and Import Control (GOEIC) report cited by Ahram Online. The improvement came on the back of a 3% growth of non-oil exports, which reached USD 19.2 bn in the first nine months of the year, up from USD 18.7 bn in the comparable 2018 period. Imports also fell slightly to USD 51.39 bn from USD 52.57 bn.

The breakdown: Exports of Egyptian-made textiles grew 10%, engineering products 9%, garments 7%, and medical supplies 3%. The growth came as the value of imported leather products, construction materials, chemicals, and furniture decreased.

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