Remittances from Egyptians working abroad surged 55.3% to $36.5 billion, up from $21.9 billion in the previous year.
Egypt’s trade deficit narrowed by 25.9% in FY2024/2025, reaching $15.4 billion compared to $20.8 billion in FY2023/2024, according to the Central Bank of Egypt’s balance of payments report.
Remittances from Egyptians working abroad surged 55.3% to $36.5 billion, up from $21.9 billion in the previous year.
Tourism revenues also increased 16.3%, reaching $16.7 billion compared to $14.4 billion, driven by a rise in tourist nights to 179.3 million from 154.1 million.
Meanwhile, foreign direct investment inflows recorded $12.2 billion, down from $46.1 billion in FY2023/2024, which had included exceptional inflows of around $35 billion related to the Ras El Hekma deal.
Overall, the balance of payments registered a surplus of $2.1 billion, reversing a deficit of $9.7 billion the previous year, reflecting continued improvement in the current account and the normalization of exceptional inflows.
However, the petroleum trade deficit widened to $13.9 billion from $7.6 billion, as petroleum imports rose by $6.1 billion to $19.5 billion, mainly due to higher imports of natural gas, crude oil, and petroleum products.
Petroleum exports declined slightly to $5.6 billion from $5.8 billion, weighed down by a $512.6 million (−8.8%) drop in natural gas exports and a $1.7 billion (−22%) fall in crude oil exports, partly offset by a $1.1 billion (+24%) increase in refined petroleum product exports.
The non-oil trade deficit also widened 16.3%, reaching $37.1 billion compared to $31.9 billion in 2023/2024. Non-oil imports rose 22.1% to $71.7 billion from $58.8 billion, driven mainly by higher imports of wheat, soybeans, raw tobacco, and spare parts for vehicles and tractors.
In contrast, non-oil exports increased 29.1% to $34.6 billion from $26.8 billion, supported by strong growth in exports of gold, ready-made garments, fresh and dried fruits, vegetables, and aluminum products.
Meanwhile, Suez Canal revenues declined 3.6% to $6.6 billion from $6.8 billion, reflecting a 55.1% drop in net tonnage and a 38.5% decrease in transiting vessels.
However, the second half of the fiscal year (January–June 2025) witnessed a mild recovery, with canal fees rising 1.4% to $1.83 billion, compared to $1.8 billion during the same period in 2024.
