Trade balance deficit improves by 12 percent. Decrease in international oil prices contributed most to lower import value

The trade balance (exports minus imports) improved by 12 percent last year, reaching $15 billion compared to $17 billion in 2014, according to Customs.

Marwan Barakat, Head of Research at Bank Audi, said that the decrease in the trade is attributed to the drop in oil prices and the depreciation of some currencies, mainly the euro versus the dollar.

Imports dropped by 12 percent, exports by 11 percent. The drop in the value of exports was due to the insecurity of transport lines t...

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