Egypt Current Account to GDP

Egypt recorded a Current Account deficit of 3.10 percent of the countrys Gross Domestic Product in 2012. Current Account to GDP in Egypt is reported by the Central Bank of Egypt. From 1980 until 2012, Egypt Current Account to GDP averaged -0.8 Percent reaching an all time high of 8.7 Percent in December of 1992 and a record low of -8.5 Percent in December of 1984. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Egypt Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-20

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-3.10 -2.60 8.70 -8.50 -3.64 | 2013/12 1980 - 2012 Percent Yearly

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Egypt Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
Current Account to GDP -3.10 2012-12-31 -2.60 8.70 -8.50 -3.64 2013-12-31 Percent [+]
Balance of Trade -2190.00 2014-01-15 -2630.40 235.50 -4805.13 -2508.47 2014-02-28 USD Million [+]
Current Account -1512.80 2013-11-15 757.00 1538.90 -3140.10 -97.08 2014-03-31 USD Million [+]
Crude Oil Production 533.00 2013-10-15 534.00 930.00 519.00 534.24 2013-11-30 Thousands Barrels per Day [+]
Exports 2217.00 2014-01-15 2421.30 2991.20 12.63 2317.20 2014-02-28 USD Million [+]
External Debt 47017.10 2013-09-30 43233.00 47017.10 26132.50 43876.68 2013-12-31 USD Million [+]
Foreign Direct Investment 2365.90 2013-08-15 2734.70 5572.50 40.70 2369.98 2013-12-31 USD Million [+]
Imports 4408.00 2014-01-15 5051.70 6497.80 33.05 4708.96 2014-02-28 USD Million [+]
Remittances 4108.90 2013-08-15 4720.00 5054.70 655.20 4183.82 2013-12-31 USD Million [+]
Tourist Arrivals 678.00 2013-12-15 673.00 1486.00 57.00 402.62 2014-01-31 Thousand [+]
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Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


RELATED NEWS

Egyptian Inflation Rate Unchanged in March  
The annual consumer prices increased 9.82 percent in March of 2014, almost unchanged from 9.76 percent in the previous month. A year earlier, the inflation rate was recorded at 7.59 percent.
Egypt Inflation Rate Down to 6-Month Low  
In February of 2014, Egypt’s annual inflation rate decelerated to 9.8 percent from 11.4 percent in January. In November last year, the inflation rate reached its highest in four and a half years and slowed in February for the third straight month.
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At its February 27th meeting, the Monetary Policy Committee decided to keep the overnight deposit rate at 8.25 percent for the second consecutive month, in an attempt to stimulate the economy while controlling the inflation. The overnight lending rate, and the CBE rate were also maintained at 9.25 percent and 8.75 percent, respectively.
Egypt Inflation Rate Decelerates in January  
In January of 2014, Egyptian annual inflation rate slowed for the second straight month to 11.4 percent from 11.7 percent recorded in December, due to favorable base effect from the previous year. In November of 2013, the inflation rate hit a four-year high of 12.97 percent.
Egypt Monetary Policy Unchanged in January  
At its January 16th meeting, Central Bank of Egypt decided to leave the overnight deposit rate unchanged at 8.25 percent, after last month's cut, aiming to fight persistent downside risks to growth.
Egypt Inflation Rate Slows to 4-Month Low in December  
In December of 2013, Egypt annual inflation rate slowed for the first time in four months to 11.7 percent, driven by lower housing, food and utilities’ prices.
Egypt Inflation Rate Edges Up to 12.97% in November  
In November of 2013, Egypt inflation rate climbed to 12.97 percent, the highest rate in almost five years. On a monthly basis, prices slowed for the second straight month to 0.95 percent.
Central Bank of Egypt Cuts Rates  
At its December 5th meeting, Central Bank of Egypt decided to cut the overnight deposit rate by 50 bps to 8.25 percent. It is the third rate cut his year, citing pronounced downside risks to growth. The discount rate was also cut by 50 basis points to 8.75 percent.
Egypt Inflation Rate Up to 10.4% in October  
In October of 2013, Egyptian annual inflation rate accelerated to 10.44 percent, from 10.15 percent in September, mainly due to higher food prices. Core inflation rate remained steady.
Central Bank of Egypt Leaves Rates On Hold  
The Monetary Policy Committee of the Central Bank of Egypt decided on October 31st to leave the overnight deposit rate unchanged at 8.75 percent, after cutting it by 50 bps in the previous two meetings.
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