Egypt’s trade deficit fell 25% y-o-y in 2017

Egypt’s trade deficit fell 25% y-o-y in 2017 thanks to falling imports and rising exports, Trade and Industry Minister Tarek Kabil said on Friday. Egypt’s non-oil exports fell 10% y-o-y to USD 22.4 bn from USD 20.4 bn in 2016, while Imports declined to about USD 56.8 bn from about USD 66.3 bn, a 14% y-o-y decrease, Kabil said. “Egypt’s positive external trade indicators confirms the success of the ministry’s efforts to curb random importation and the substitution of local alternatives with imports,” Kabil added.