{"id":636377,"date":"2024-07-30T00:00:00","date_gmt":"2024-07-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/30\/our-non-oil-trade-deficit-narrowed-16-y-o-y-in-1h-2024\/"},"modified":"2024-07-30T00:00:00","modified_gmt":"2024-07-30T00:00:00","slug":"our-non-oil-trade-deficit-narrowed-16-y-o-y-in-1h-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/30\/our-non-oil-trade-deficit-narrowed-16-y-o-y-in-1h-2024\/","title":{"rendered":"Our non-oil trade deficit narrowed 16% y-o-y in 1H 2024"},"content":{"rendered":"

Good afternoon, folks. <\/strong>The government\u2019s efforts to slim down the country\u2019s trade deficit seems to be going a lot better than most diets after the first six months of the year.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Egypt\u2019s non-oil trade deficit narrowed by 16% y-o-y to USD 15.9 bn in the first half of<\/strong> 2024,<\/strong> down from USD 18.9 bn in the same period last year, Asharq Business<\/a>, citing a government document. <\/p>\n

Driving the trend:<\/strong> Non-oil exports increased by 9.8% y-o-y to some USD 19.6 bn in the first six months of the year \u2014 pushed by the recent EGP float, which boosted our exports\u2019 competitiveness in foreign markets. As exports increased, non-oil imports dipped by 3.3% y-o-y to EGP 35.6 bn, dragged by a \u201cdecrease in imports by about USD 1.2 bn during the first six months of this year,\u201d according to the document cited by the outlet.<\/p>\n

<\/a> <\/p>\n

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THE BIG STORY ABROAD<\/p>\n

The aftermath of Venezuelan President Nicolas Maduro\u2019s re-election continues to make<\/strong> the rounds on the front pages of the int\u2019l business press<\/strong>, with no single business story dominating the news this evening. Protests erupted across Venezuela after President Nicolas Maduro\u2019s disputed re-election<\/a>, with riot police using tear gas against protesters in Caracas. Maduro was declared the winner of Sunday\u2019s presidential vote by the country\u2019s electoral authority, while the main opposition grouping claimed that its candidate, Edmundo Gonz\u00e1lez, had won with 70% of the votes after taking the lead<\/a> in most polls and exit surveys. (Financial Times<\/a> | Reuters<\/a> | CNBC<\/a>)<\/p>\n

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