(Ecofin Agency) - Data published by the Central Bank of Egypt reveals that trade between the North African nation and the rest of the world slumped during the 2015/16 fiscal year, by $8.54 billion. It was estimated at $75.02 billion over the period, against $88.55 billion in 2014/15.

The situation according to the institution results from a decrease in imports and exports.

The bank said the former stood at $56.31 billion at the end of June 2016, against $61.31 billion at the end of June 2015, thus down $4.99 billion.

Exports for their part fell by $3.54 billion over the period considered, to $18.7 billion, against $22.25 billion for the 2014/15 year.

Egypt has 14 main commercial partners. In order of importance they are: United Arab Emirates, China, Germany, United States, Italy, Russia, United Kingdom, Turkey, France, Switzerland, India, Holland and Spain.

Trade between these countries and Egypt reached $45.89 billion, divided into $33.26 billion for imports and $12.64 billion for exports.

Trade between Egypt and other nations, excluding the previously mentioned group, stood at $29.12 billion, $23.05 billion and $6.07 billion for imports and exports respectively.

B.K