Egypt’s current account deficit more than doubled to $5.1bn in the January-March quarter from $2.3bn a year earlier, central bank data showed on Sunday, reports Reuters. 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 $800mn a year earlier. Oil imports increased to $5.7bn in the same quarter, from $4.8bn a year earlier, while exports rose slightly to $1.6bn from $1.2bn.
