Egypt's trade balance deficit with Brazil down by 65% in Q1

CAIRO - 25 July 2017: The deficit in the balance of trade between Egypt and Brazil decreased by 65 percent in the first quarter of 2017 to reach 220 million dollars, compared to 632 million dollars during the same period in 2016.

A report issued by the trade representation office on Tuesday, a copy of which MENA obtained, showed that the export - import coverage ratio reached 26.1 percent in the first quarter of the current year, against 1.7 percent during the same period last year.

The volume of Egypt's exports to Brazil in the first four months of the current year amounted to 78 million dollars, against 11 million dollars during the same period last year, the report said.

Egypt's imports dropped by 54 percent to register 298 million dollars in the first quarter of the current year, compared to 643 million dollars during the same period last year, the report added.