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Africa North
Egypt trade balance deficit surges for sixth time in June
2012-09-17
[Al Ahram] Egypt's trade deficit saw yet another surge in June, growing a whopping 49 per cent over the same month last year, latest data from Egypt's official statistics body CAPMAS showed Sunday.

The trade deficit reached LE17.6 billion in June 2012 versus LE11.9 billion a year earlier. On a monthly level, the trade deficit dropped from LE19 million in May.

A drop in exports was behind the increased deficit, the former falling 17.6 per cent in June to sit at LE14.7 billion.

The CAPMAS report attributed the exports drop to a decline in overseas demand for Egypt's petroleum products, garments, fertilisers and electrical wires.
Posted by:Fred

#4  g(r)omgoru yes, In my opinion China has been printing so much money they are in as bad a shape as ourselves, perhaps worse. We are a consumer economy. We can turn things around much faster. That is if people have jobs and real money. The Chinese save. They don't spend. Their government spends. Not the same. Let capitalism live and our winter will pass much sooner. Get government off our backs. Should Obama return then we will have more of the same but having less of everything.
Posted by: Dale   2012-09-17 19:38  

#3  The sad part is, g(r)omgoru, that you are probably right.
Posted by: Ebbang Uluque6305   2012-09-17 15:48  

#2  I'm sure O will barrow from China to make up that deficit.
Posted by: g(r)omgoru   2012-09-17 03:39  

#1  Buy nothing Egyptian. period.

...and no tourist trips to the pyramids either.

Posted by: Mikey Hunt   2012-09-17 00:49  

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