Egypt's current account deficit narrowed to $5.582 billion in the fiscal year to end-June from $10.146 billion a year earlier, the Central Bank said in a statement on its website.

    The capital and financial account showed a marked increase in net inflows, to register US$ 9.7 billion (from US$ 1.0 billion earlier).

    The trade deficit drops to US$ 31.5 billion (against US$ 34.1 billion), reflecting the 3.6 percent rise in merchandise exports to US$ 26.0 billion (from US$ 25.1 billion), and the 2.9 percent decline in merchandise imports to US$ 57.5 billion (from US$ 59.2 billion).

    Foreign Direct Investment fell to US$3.00 billion from US$3.98 billion a year earlier.

     

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