Egypt's trade deficit surges 82% in August

Egypt's trade deficit grew 81.9 percent in August compared to the same period a year earlier, state-run statistics agency CAPMAS announced on Thursday.

The deficit reached LE32.8 billion in August compared to LE18 billion in the same period the previous year.

A significant rise in imports by almost 50 percent caused the rise.

According to the CAPMAS report, the increase in imports was driven by a surge in the value of crude oil, steel and passenger cars by 100 percent, 95 percent and 283 percent respectively.