Egypt recorded a balance of payments (BoP) surplus of $5.4 billion in the year to June, up from $5.2 billion a year earlier, central bank figures showed on Saturday.
Net services and transfers Revenue from tourism jumped 32.3 percent to $10.8 billion, and revenue from the Suez Canal rose 23.6 percent to $5.2 billion due to an increase in shipping through the waterway and an increase in tonnage.
The trade balace, however, deteriorated to record a deficit of $23.42 billion, compared with $16.20 billion for 2006/2007.
Exports of oil and gas jumped nearly 50 percent to $14.47 billion while net foriegn direct investment (FDI) inflows continued to be strong with the country attracting net FDI of $13.24 billion compared with $11.05 billion in the previous financial year. (Reuters)For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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