Current Account in Egypt
Egypt - Current AccountThe economy grew at an accelerated pace in the second quarter of fiscal year 2019—which covered October to December 2018—compared to the first quarter. Although a comprehensive breakdown of GDP components is still pending, private consumption should have supported the strong outturn given that the unemployment rate fell to the lowest level in nine years in the quarter. This comes after the current account deficit remained broadly unchanged in Q1 FY 2019, with rising tourism revenues compensating for a larger merchandise trade deficit. More recently, the economy had a shaky start to Q3 FY 2019: The private-sector PMI fell in January to the lowest level since December 2017 and therefore remained in contractionary territory for the fifth month running. This downturn was due to markedly lower output and a substantial drop in forward-looking business sentiment.
Egypt - Current Account Data
|Current Account (% of GDP)||-2.2||-0.9||-3.6||-6.0||-6.5|
5 years of economic forecasts for more than 30 economic indicators.
Egypt Current Account Chart
Source: Central Agency for Public Mobilization and Statistics and FocusEconomics calculations.
|Bond Yield||16.65||0.0 %||Mar 11|
|Exchange Rate||17.43||0.0 %||Mar 11|
|Stock Market||1,455||0.53 %||Mar 11|
Get a sample report showing our regional, country and commodities data and analysis.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
March 10, 2019
In January consumer prices rose 1.7% compared to the previous month, up from the 0.6% rise in January and representing the highest month-on-month increase since October.
March 5, 2019
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) fell to 48.2 in February from 48.5 in January, representing the lowest reading since September 2017.
February 10, 2019
In January consumer prices rose 0.6% compared to the previous month, contrasting the 3.4% decrease in December.
February 5, 2019
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) fell to 48.5 in January from 49.6 in December, representing the lowest reading since December 2017.
January 16, 2019
According to an announcement by the Ministry of Planning and Administrative Reform on 16 January, GDP increased 5.3% in October–December (Q2 FY 2019) compared to the same three months a year earlier.