Egypt’s trade deficit decreased by 43.8% year-on-year in May, according to statistics released by the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed and reported Al Ahram Gate.

The country’s trade deficit was approximately $2.32 billion in May 2017, down from $4.14 billion in May 2016.

Egyptian exports were 8.8% higher in May 2017 than in May 2016, reaching $2.28 billion from $2.09 billion. At the same time, Egypt’s imports fells to $4.6 billion from $6.32 billion, a decrease of 26.1%.