Page 17 - EGYPT - En Vol.4 HD

E gypt
Snapshot of E gypt 15
Net International Reserves (USD billion)
Net International Reserves:

• The first phase of economic reform was aimed to rebuild international

reserves, at which Egypt has already succeeded. Egypt was able to raise
net international reserves from USD 19.6 billion in September 2016 to
USD 34.97 billion in September 2023, despite the negative impacts of
COVID-19 and Russian-Ukranian war. The net international reserves Sep. Sep. Sep. Sep. Sep. Sep. Sep. Sep.
covering merchandise imports reached an average of 5.7 months in 2016 2017 2018 2019 2020 2021 2022 2023

September 2023. Source: Centeral Bank of Egypt (CBE)

• Egypt received a total of USD 22.1 billion FY2022/23 compared to USD Comparison of International Reserves in Egypt vs. some of
Regional and Emerging Countries (USD billion)
21.8 billion in FY2016/17.
2022

8.0 56.8 40.5 34.0 13.3 28.9 7.4
Remittance of Egyptians
Working Abroad USD 22.1 billion
$ FY2022/23
USD 21.8 billion
FY2016/17

Suez Canal Dues
USD 8.8 billion 9.5 39.7 42.2 39.8 19.0 35.7 8.9
$ FY2022/23 2021
USD 5 billion
FY2016/17 Kenya Argentina Qatar Egypt Jordan Morocco Tunisia

Source: Centeral Bank of Egypt (CBE) Source: The World Bank - CEIC