Africa-Press. Data from the Central Bank of Egypt revealed that the current account deficit in Egypt widened during the quarter from January to March 2026 to $5.1 billion, compared to $2.3 billion in the same period last year.
According to the central bank’s data, reported by a local source, net foreign direct investment flows slightly decreased to $3.7 billion, compared to $3.8 billion in the same period of 2025.
The central bank attributed the widening of the current account deficit during the period from July to March primarily to an increase in the merchandise trade deficit, with a partial offset from rising remittances from Egyptians working abroad, tourism revenues, and Suez Canal receipts.
Remittances from Egyptians abroad saw a notable increase to $12.8 billion during the first quarter of the year, compared to $9.3 billion in the same period last year, providing significant support to foreign currency resources.
Tourism revenues also rose to $4.2 billion, compared to $3.8 billion a year earlier, indicating a continued recovery in the tourism sector and its role in supporting the balance of payments.
Suez Canal revenues increased to $1 billion, up from $800 million in the same period last year, reflecting a relative improvement in one of Egypt’s key sources of dollar income. Meanwhile, oil imports rose to $5.7 billion, compared to $4.8 billion a year earlier, while oil exports increased slightly to $1.6 billion, up from $1.2 billion in the same period last year.
These figures indicate that the improvement in foreign currency resources from remittances, tourism, and the Suez Canal was not sufficient to contain the impact of the widening trade gap, especially with ongoing pressures from energy bills and merchandise imports.
