Egypt’s current account deficit more than doubled to $5.1 billion (R83bn) in the January-March quarter from $2.3bn a year earlier, central bank data showed on Sunday.
• Net foreign direct investment inflows edged down to $3.7bn from $3.8bn in the same period of 2025.
• The central bank attributed the wider July-March current account deficit mainly to a larger merchandise trade deficit, partly offset by higher remittances, tourism revenue and Suez Canal receipts.
• Remittances from Egyptians working abroad rose to $12.8bn from $9.3bn in the same quarter last year.
• Tourism revenue increased to $4.2bn from $3.8bn in the same period last year.
• Suez Canal revenues rose to $1bn from $800m a year earlier.
• Oil imports increased to $5.7bn in the same quarter, from $4.8 bn a year earlier, while exports rose slightly to $1.6bn from $1.2bn.
- Egypt's current account deficit more than doubled to $5.1 billion in Q1 versus $2.3 billion the previous year.
- Net foreign direct investment inflows slightly declined to $3.7 billion from $3.8 billion in Q1 2025.
- The wider deficit is mainly due to a larger merchandise trade deficit, partially offset by increases in remittances, tourism revenue, and Suez Canal receipts.
- Remittances rose significantly to $12.8 billion, tourism revenue increased to $4.2 billion, and Suez Canal revenues grew to $1 billion compared to the same quarter last year.
- Oil imports increased to $5.7 billion while exports saw a slight rise to $1.6 billion during the quarter.
