Egypt’s trade deficit down by 48% in January-April 2017

Egypt’s trade deficit fell 48% y-o-y in 4M2017 to USD 8.5 bn, Trade and Industry Minister Tarek Kabil said, Al Masry Al Youm reports. Non-oil exports rose 14% y-o-y to USD 7.4 bn and there was a 30% y-o-y decrease in imports to USD 15.9 bn. The ministry singled out growth in exports of construction materials, agricultural products, readymade garments, and food products, according to Al Borsa. The bulk of the exports went to COMESA, Agadir, GCC, and EU countries. Standouts included Turkey and the United States, the ministry said.