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Egypt's trade deficit fell after the liberation of the exchange rate
7/3/2017 0:00
[rtl]
Cairo / BBC
Central Agency for Public Mobilization and Statistics in Egypt revealed the decline in thetrade deficit fell 40.5 percent in December compared to read the same month of theprevious year, driven by a large decline in imports exceeded $ 1.6 billion.
The sequence of the Iraqi community located in Egypt , the reality and the mechanisms of the Egyptian economy is related to the standard of living for a large segment of families stationed there.
He said a statement issued by the machine that the deficit in the Egyptian trade balance fell to $ 2.38 billion compared to reading in December 2015 , which recorded a trade deficit of $ 4 billion. The value of exports fell by 1.3 percent, reaching $ 2.01 billion during the month of December 2016 compared with $ 2.04 billion for the same month of the previous year, according to the statement.
The decline in the volume of Egyptian imports by about $ 1.6 billion in December last, by 27.3 percent, recorded 4.39 billion dollars compared to December 2015 exports , which recorded $ 6.03 billion.
Wheat came in the forefront of imports , which saw a decline as the percentage change amounted to 41.6 percent, while imports of plastics (plastics industry inputs) tumbled by 29.7 percent, and the fall in imports of basic materials such as iron and steel by about 18.1 percent.
Egypt 's central bank has decided to edit the Egyptian pound exchange rate against the US dollar last November, which led to a dramatic rise in the US dollar against the pound to levels that exceeded 19 pounds compared to the price of fixed exchange by the editorial decision by the central bank at about 8.88 pounds.
The doubling of the dollar 's exchange rate against the pound key cause of the decline in imports in Egypt , which imports about two - thirds of the necessary needs of the citizens, since declined many importers from bringing in large amounts of basic and essential commodities due to the high exchange rate and the difficulty of obtaining hard currency since the decision to float the
pound . [/rtl]
[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=133077[/rtl]
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