Egypt's current account deficit rises 54.1%
The current account deficit in Egypt increased by 54.1% during the second quarter of 2026, reaching $7.884 billion compared to $5.117 billion in the first quarter. This rise was driven by an 11.3% increase in imports and an 11.9% improvement in exports. Meanwhile, official transfers declined by 3.8%, despite a 23.62% year-over-year increase to $12.189 billion, supported by the continued 28.1% growth in remittances from Egyptians working abroad during the first seven months of the year. The trade balance deficit grew by 5.5%, totaling $13.389 billion, while the services balance remained in deficit at $153 million.
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