Current Account in Egypt

Egypt Current Account | Economic News & Forecasts

Egypt - Current Account

The economy likely slowed for the second consecutive quarter in Q2 FY 2020, which ran from October to December, as suggested by a decrease in the quarter’s non-oil private sector PMI reading compared to the previous quarter. Non-oil private sector activity was hampered by weak demand, contributing to drops in employment in both November and December, boding poorly for the yet-to-be-announced unemployment rate in Q2, which previously ticked up in Q1. More positively, international reserves, which have been climbing since Egypt began the three-year IMF program in 2016, rose to USD 45.4 billion in December, the highest reading in at least a decade-and-a-half. In other news, the government announced in December that several international energy companies, including Chevron and Royal Dutch Shell, had been granted exploration rights in Egyptian waters, in a bid to boost the energy sector.

Egypt - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-2.2  -0.9  -3.6  -6.0  -6.1  

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Egypt Current Account Chart

Egypt Current Account
Note: Current account balance as % of GDP.
Source: Central Agency for Public Mobilization and Statistics and FocusEconomics calculations.

Egypt Facts

Bond Yield13.700.0 %Dec 31
Exchange Rate16.040.0 %Jan 01

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