Egypt's current account deficit increased to USD 5.13 billion in the second quarter of 2021 from USD 3.83 billion in the corresponding month of the previous year, as imports surged and tourism was slow to bounce back to pre-COVID-19 levels. Imports jumped to USD 19.59 billion in the quarter from USD 13.83 billion a year earlier, amid a strong currency. Meanwhile, tourism revenue surged to USD 1.75 billion in the second quarter of the year from a low of USD 0.31 billion in the same quarter 2020, due to the coronavirus crisis in April – June 2020. Considering the financial year of 2020/2021 to the end of June, the current account deficit, hit by the pandemic, widened to USD 18.4 billion from USD 11.2 billion. source: Central Bank of Egypt
Current Account in Egypt averaged -1025.94 USD Million from 1993 until 2021, reaching an all time high of 1538.90 USD Million in the third quarter of 2003 and a record low of -5667.40 USD Million in the first quarter of 2021. 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 - values, historical data and charts - was last updated on October of 2021.
Current Account in Egypt is expected to be -3250.00 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 -3100.00 USD Million in 2022 and -3300.00 USD Million in 2023, according to our econometric models.