Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt expresses 'deep dissatisfaction' to Netherlands over embassy attack    Global pressure mounts as Gaza fighting intensifies and death toll surges    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    At TICAD, Egypt's education minister signs pacts with Casio, SAPIX    Madbouly invites Japanese firms to establish industrial zone in SCZONE    Cairo, Tokyo sign LOI to expand educational cooperation, support for persons with disabilities    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Al-Sisi meets Qatar PM, Bahrain security adviser to discuss Gaza crisis, regional stability    Indian tourist arrivals to Egypt jump 18.8% in H1-2025: ministry data    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's payments balance reaches $410m surplus in H1, FY2019/20
Net FDI rose $773.8m to record net inflow of $5bn by H1 of FY2019/20
Published in Daily News Egypt on 30 - 03 - 2020

Egypt's balance of payments has reached a $ 410m surplus in the First Half (H1) of FY2019/20, the Central Bank of Egypt (CBE) reported. The latest figures can be comapred to e ttotal deficit of $1.8bn in the same period last year.
The current account deficit declined by $684.4m, recording $4.6 bn during the first six months of the current FY. This reflects a decline from $5.3bn during the same period last year, driven mainly by the decline in the non-oil trade deficit and the rise in unrequited current transfers.
In terms of the non-oil trade deficit, the CBE stated that it fell by $1.4bn in the first six months of the current FY to reach $18bn. This is down from $19.4bn during the same period last year.
The non-oil merchandise exports rose by $940.9m, reaching $9.2bn, while the non-oil merchandise imports retreated by $490.7m to stand at $27.2bn during the period from July to December 2019.
The CBE also revealed that oil exports declined by $1bn, standing at $5bn during the first six months of FY2019/20, compared to $6bn during the same period last year.
The CBE added that the net FDI rose by $773.8m to record a net inflow of $5bn in H1 of FY2019/20, up from $4.2bn during the same period last year. The CBE attributed this hike largely to the$1.2bn increase in net inflows for greenfield investments, recording $3.2bn.
Suez Canal receipts rose by $103.8m during the H1 of the current FY, reaching $3bn, up from $2.9bn during the same period last year.
The travel surplus retreated by $155.4m, reaching $5.3bn, down from $5.4 bn in the same period last year.
The CBE noted that the whole services surplus has declined by $1.0bn, reaching $6.3bn during the H1 of FY2019/20, compared to $7.3bn in the same period last year.


Clic here to read the story from its source.