Pre-Trading Thoughts

Unemployment inched down to 7.0% in 2Q23, down 0.1% from 1Q23, according to data released by statistics agency Capmas. Unemployment was down 0.2% compared with the same period last year. Egypt's non-petroleum trade deficit has reached USD7.5 billion in 2Q23, showing a 10.7% dip from the same period last year. Non-oil imports value has dropped to USD15.9 billion in 2Q23 from USD17.6 billion in 2Q22, while the value of the non-oil exports fell to USD8.4 billion in 2Q23 from USD9.2 billion in t...