CBE: Egypt's foreign trade up by 7.8%

Egypt's foreign trade volume recorded an increase of 7.8 percent during the period from July-December of the 2014/2015 financial year.

The value recorded $44.7 billion during the period from July to December 2014 against $41.4 billion during the same period in 2013, read a press release by the Central Bank of Egypt (CBE).

The CBE attributed the hike to the increase in payments for imported goods by 14.7 percent to reach $32.4 billion.

According to the press release, the European Union is the first foreign trade partner with 30.2 percent of total foreign trade volume.

Arab countries came second as trade partners with 23.9 percent, the CBE said.