Egypt’s non-petroleum exports hiked 12 percent year-on-year in August 2017, Minister of Trade and Industry Tareq Qabil said.

The exports registered $1.9 billion in August 2017, compared to $1.7 billion in the same month a year earlier, the minister said according to the latest report he received from the General Organization for Import and Export Control on the indicators of Egypt’s non-petroleum exports and imports.

Qabil added that the country’s non-petroleum imports slumped 50 percent in August 2017, standing at $3.04 billion, down from $6.07 billion in August 2016.

In the same regard, the minister noted that Egypt’s total trade deficit has seen a sharp decline, after they plunged 74 percent to $1.1 billion last August, against $4.36 billion during the same period a year earlier.

These positive indicators assert the trade ministry’s success in its plan to restore improvement rates, achieve the targeted rates in exports and imports as well as to limit the import of low-quality products, Qabil said.

Source : Mena