Egypt's January-March current account deficit widens to $5.1 billion
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A general view of the Nile river and buildings in Cairo, Egypt, March 25, 2026. REUTERS/Mohamed Abd El Ghany
July 12 (Reuters) - 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 on 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.
(Reporting by Eman AbouhassiraEditing by Emelia Sithole-Matarise and David Goodman)
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