VOL. XLIII

No. 34

21-August-2000

EGYPT

Egypt Registers First Petroleum Trade Deficit For 25 Years

According to the 1999 Annual Report of the Egyptian General Petroleum Corporation (EGPC), Egypt has suffered its first petroleum trade deficit in nearly 25 years, with imports of petroleum products valued at $1,945mn and exports at $1,821mn (see Table 1). At $124mn the deficit is larger than had been expected (MEES, 5 June) and results, EGPC says, largely from a 14% increase in domestic demand for...