Current Account in Egypt

Egypt Current Account | Economic News & Forecasts

Egypt - Current Account

The 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

2013  2014  2015  2016  2017  
Current Account (% of GDP)-2.2  -0.9  -3.6  -6.0  -6.5  

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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 Yield16.650.0 %Mar 11
Exchange Rate17.430.0 %Mar 11
Stock Market1,4550.53 %Mar 11

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