Egypt trade deficit down in May

Egypt's trade balance deficit reached LE17.37 billion ($2.4 billion) in May 2014, state-run statistical body CAPMAS reported on Monday.

The figure represents a 28.6 percent drop compared to the same month in 2013, when the deficit stood at LE24.33 billion ($3.4 billion).

The value of exports increased by 7.6 percent, reaching LE18.57 billion pounds during May 2014 versus 17.25 billion pounds for the same month the previous year.