Foreign exchange receipts in Egypt increased by 5.6% in year

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Sun, 28 Nov 2021 - 11:15 GMT

BY

Sun, 28 Nov 2021 - 11:15 GMT

Foreign Currencies - Flickr

Foreign Currencies - Flickr

CAIRO - 28 November 2021: Egypt’s total foreign exchange receipts hiked 5.6 percent  during 2019/2020, amounting to $128.9 billion, up from $122.1 billion during 2018/19, the annual bulletin of statistics of foreign exchange receipts and payments in Egypt for the fiscal year 2019/2020 revealed.

 

The Central Agency for Public Mobilization and Statistics (CAPMAS) stated, Saturday, that government receipts represented the most prominent sectors, an increase in foreign exchange receipts, reaching $3.9 billion in 2019/2020, compared to $0.7 billion in 2018/19, with an increase of 457. 0 percent.

 

The total foreign exchange payments rose 15.3 percent to $2,143 billion in 2019/2020 on an annual basis. Payments to the financial account (portfolio investments) were the most prominent aspects of foreign exchange payments, reaching $27.7 billion, compared to $16.3 billion, marking an increase of 70 percent.

 

The value of incoming foreign exchange receipts was concentrated in terms of geographical diversity in the Arab region, while foreign exchange payments were concentrated in terms of geographical diversity towards the countries of the European continent.

 

The value of cash transactions (receipts and payments) with the COMESA countries, which includes 21 countries (of which Egypt is a member) decreased to $4.1 billion, compared to $5.1 billion in the previous year, at a time when the balance of monetary transactions rose to achieve a surplus of up to $2 billion in 2019/2020 compared to $3 billion in the previous year, affected by the general trend towards consolidating relations with the countries of the African continent.

 

The value of cash transactions (receipts and payments) with the European Union (Egypt is not a member) increased to $7.75 billion, compared to $3.66 billion in the previous year, with an increase of 2.14 percent.


 

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