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Key Highlights of
Egypt’s Balance of Payments (BOP)
Q3 and 9M 2015/16
Economic Alert
10 July, 2016
Key Highlights of Egypt’s Balance of Payments (BOP)
Q3 and 9M 2015/16
According to a recent press release by the Central B...
2.9
3.6
4.0
1.5
2.1
4.7
1.5
1.3
2.5
3.4
3.0
1.4
1.9
4.7
1.1
-2.4
3.1
1.6
3.2
2.2
1.2
1.5
5.0
2.5
1.5
1.6
-5.0 0.0 5.0 10.0...
“Advice
is judged by results,
not by intentions”
Address: 166 Al-Shouyfat St., New Cairo
Telephone: +202 26164383/4/5
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Dcode EFC- key highlights of Egypt's BOP performance

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According to a recent press release by the Central Bank of Egypt (CBE), Egypt’s BOP recorded a net outflow of USD 3.64 bn in July-March 2015/16 compared to the same period in 2014/15. Such deterioration was due to a widening in the current account to record net outflow of USD 14.47 bn against USD 8.35 bn a year earlier. Whereas, the capital and financial account recorded net inflow of USD 13.91 bn up from USD 6.65 bn a year earlier. The presentation presents the key highlights.

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Dcode EFC- key highlights of Egypt's BOP performance

  1. 1. Key Highlights of Egypt’s Balance of Payments (BOP) Q3 and 9M 2015/16 Economic Alert 10 July, 2016
  2. 2. Key Highlights of Egypt’s Balance of Payments (BOP) Q3 and 9M 2015/16 According to a recent press release by the Central Bank of Egypt (CBE), Egypt’s BOP recorded a net outflow of USD 3.64 bn in July-March 2015/16 compared to the same period in 2014/15. Such deterioration was due to a widening in the current account to record net outflow of USD 14.47 bn against USD 8.35 bn a year earlier. Whereas, the capital and financial account recorded net inflow of USD 13.91 bn up from USD 6.65 bn a year earlier. Below are the key highlights:  Petroleum exports retreated by 39.3% due to the decline in international crude oil prices (declined 30.9% in Q3)  Non-petroleum exports declined 9.5% affected by foreign exchange shortages (remained steady in Q3)  Petroleum imports contracted 23.5% driven by the decline in the international oil prices (declined 26.1% in Q3)  Non-petroleum imports declined 4.7% due to the difficult access to foreign currencies (increased by 6.9% in Q3)  Suez Canal declined by almost 5% (was almost steady in Q3)  Tourism revenues declined 40.5% affected by the Russian tourist plane incident which led to a decline decline in the number of tourist nights from 73.4 million to 45.1 million (declined 39.5% in Q3)  Private transfers declined 13.6% due to deteriorated fiscal positions in the Arab Gulf States (declined 17.2% in Q3)  Net FDIs increased by 14.3% supported by leveraged Greenfield non-oil investments (increased 8.9% in Q3)  Net Portfolio Investments outflows declined 27.3% during the period of comparison (recorded a modest net inflow of USD 85 mn in Q3) -29.5 4.3 16.9 -8.3 6.6 -1.0 -29.3 2.4 12.4 -14.5 13.9 -3.6 -40.0 -30.0 -20.0 -10.0 0.0 10.0 20.0 Trade Balance Services (net) Transfers Current Account Balance Capital & Financial Account Overall Balance July-March 2014/15 July/March 2015/16 USD bn -9.2 0.2 5.0 -4.0 5.9 0.0 -9.9 0.2 4.1 -5.5 4.7 -0.2 -12.0 -10.0 -8.0 -6.0 -4.0 -2.0 0.0 2.0 4.0 6.0 8.0 Trade Balance Services (net) Transfers Current Account Balance Capital & Financial Account Overall Balance Q3 2014/15 Q3 2015/16 USD bn Egypt's BOP Main Balances 9M (July-March) Egypt's BOP Main Balances Q3 (Jan-March)
  3. 3. 2.9 3.6 4.0 1.5 2.1 4.7 1.5 1.3 2.5 3.4 3.0 1.4 1.9 4.7 1.1 -2.4 3.1 1.6 3.2 2.2 1.2 1.5 5.0 2.5 1.5 1.6 -5.0 0.0 5.0 10.0 15.0 Petroleum Exports Non-petroleum Exports Petroleum Imports Suez Canal Receipts Tourism Receipts Private Transfers (net) Official Transfers (net) Direct Investment In Egypt (net) Portfolio Investment in Egypt (net) Change in Banks' Foreign Assets Change in CBE's Foreign Liabilities Change in Banks' Liabilities Q1 (Jul-Sep '14) Q2 (Oct-Dec '14) Q3 (Jan-Mar '15) 1.7 3.1 2.8 1.4 1.7 4.3 1.4 -1.4 0.7 1.5 2.9 2.6 1.3 4.0 1.7 3.2 1.5 1.7 1.1 3.2 1.6 1.2 4.1 2.8 5.4 3.0 2.5 -5.00.05.010.015.0 Petroleum Exports Non-petroleum Exports Petroleum Imports Suez Canal Receipts Tourism Receipts Private Transfers (net) Official Transfers (net) Direct Investment In Egypt (net) Portfolio Investment in Egypt (net) Change in Banks' Foreign Assets Change in CBE's Foreign Liabilities Change in Banks' Liabilities Q1 (Jul-Sep '15) Q2 (Oct-Dec '15) Q3 (Jan-Mar '16) USD bn 12.3 13.4 11.7 0.0 10.0 20.0 30.0 40.0 Non-petroleum Imports Q1 (Jul-Sep '14) Q2 (Oct-Dec '14) Q3 (Jan-Mar '15) 11.811.312.5 0.010.020.030.040.0 Non-petroleum Imports Q1 (Jul-Sep '15) Q2 (Oct-Dec '15) Q3 (Jan-Mar '16) Key Highlights of Egypt’s Balance of Payments (BOP) Q3 and 9M 2015/16 Egypt’s Key External Accounts (July-March) 2015/162014/15
  4. 4. “Advice is judged by results, not by intentions” Address: 166 Al-Shouyfat St., New Cairo Telephone: +202 26164383/4/5 Email: info@dcodeefc.com Website: www.DcodeEFC.com

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