Cairo – Mubasher: Trade exchange between Egypt and its foreign partners slashed to 3% during the second quarter of 2018, the Central Bank of Egypt (CBE) said.
The North Africana nation’s bilateral trade with its partners recorded its highest rate since 2011 at 3.2% during Q4-17, the CBE added in the monetary policy report.
This slowdown in trade was mainly driven by a slight decrease in the developed countries’ economic activities, registering 2.1% in Q2-18, versus 2.3% in the previous quarter, the CBE highlighted.
Moreover, the weak economic growth in the Eurozone dragged their economic activities down, according to the report.
