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 February 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.