Egypt's current account deficit fell by 20.2% year-on-year to $3.2 billion in the first quarter of the current fiscal year 2022/2023 from $4 billion in the same quarter a year earlier. The goods deficit narrowed to $9.1 billion from $ 11.1 billion a year ago, on higher oil and non-oil exports; and the services surplus rose to $4.1 billion from $2.9 billion, as tourism revenues rose by 43.5% to $ 4.1 billion from $2.8 billion. Also, transport receipts increased by 33.7 percent to reach $3 billion, up from $2.3 billion, driven mainly by a rise in Suez Canal receipts by 19.1%, recording $2 billion against $1.7 billion in the same period in FY2021/22, driven by a pickup in the net tonnage of vessels by 13.8%. source: Central Bank of Egypt

Current Account in Egypt averaged -1187.34 USD Million from 1993 until 2022, reaching an all time high of 1538.90 USD Million in the third quarter of 2003 and a record low of -5791.70 USD Million in the first quarter of 2022. This page provides the latest reported value for - Egypt Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Egypt Current Account - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Current Account in Egypt is expected to be -5300.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Egypt Current Account is projected to trend around -4000.00 USD Million in 2024 and -2600.00 USD Million in 2025, according to our econometric models.

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Egypt Current Account

Calendar GMT Actual Previous Consensus TEForecast
2022-02-02 12:20 PM Q3 $-4001M $-5135M $-5400M $-5300M
2023-02-02 10:10 AM Q3 $-3200M $-2957.8M $-2900.0M
2023-04-24 12:00 PM Q4 $-3200M $ -4700.0M

Related Last Previous Unit Reference
Balance of Trade -2481.00 -1933.00 USD Million Jan 2023
Current Account -3192.30 -2957.80 USD Million Sep 2022
Current Account to GDP -4.60 -3.10 percent of GDP Dec 2021
External Debt 155708.90 157801.00 USD Million Jun 2022
Capital Flows 4417.00 988.30 USD Million Sep 2022
Foreign Direct Investment 6727.80 4770.50 USD Million Sep 2022
Remittances 6400.00 8294.70 USD Million Sep 2022
Tourism Revenues 13.00 3.80 USD Billion Dec 2021
Tourist Arrivals 885.00 861.00 Thousand Feb 2019

Egypt Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Actual Previous Highest Lowest Dates Unit Frequency
-3192.30 -2957.80 1538.90 -5791.70 1993 - 2022 USD Million Quarterly