Egypt’s current account deficit more than doubled to $5.1 billion in the January-March quarter from $2.3 billion a year earlier, central bank data showed this Sunday.
Net foreign direct investment inflows edged down to $3.7 billion from $3.8 billion 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 $12.8 billion from $9.3 billion in the same quarter last year.
Tourism revenue increased to $4.2 billion from $3.8 billion in the same period last year.
Suez Canal revenues rose to $1 billion from $800 million a year earlier.
Oil imports increased to $5.7 billion in the same quarter, from $4.8 billion a year earlier, while exports rose slightly to $1.6 billion from $1.2 billion.
–Reuters–
