Press Release BOP Performance In FY 2012/2013 In FY 2012/2013, Egypt's transactions with the external world unfolded an overall BOP

surplus of US$ 237.0 million (against a deficit of US$ 11.3 billion a year earlier). The current account deficit retreated by 45.0 percent to US$ 5.6 billion (against US$ 10.1 billion), thanks to the following developments: The drop in the trade deficit by 7.6 percent 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). The rise in services surplus by 19.8 percent to US$ 6.7 billion (from US$ 5.6 billion). The increase resulted from the 7.0 percent rise in transportation receipts, driven by the larger receipts of Egyptian navigation and aviation companies (despite the 3.4 percent decrease in Suez Canal receipts to reach only US$ 5.0 billion against US$ 5.2 billion). Another contributing factor was the 3.5 percent increase in tourism revenues, reflecting the pickup of 8.1 percent in the number of tourist nights to post 142.4 million nights (against 131.8 million nights). Add to this the decline in investment income payments by 11.6 percent, mainly due to the drop in the profit transfers of foreign companies in Egypt and the lower transfers of interest payments and dividends on securities. The surge in net unrequited transfers to US$ 19.3 billion (from US$ 18.4 billion) as a result of the rise in private transfers (mainly workers' remittances which scaled up by US$ 697.1 million to US$ 18.7 billion, against US$ 18.0 billion). The capital and financial account showed a marked increase in net inflows, to register US$ 9.7 billion (against US$ 1.0 billion) as an outcome of the following: Portfolio investments in Egypt reversed to a net inflow of US$ 1.5 billion (from a net outflow of US$ 5.0 billion), mainly due to the issuance of Egyptian government bonds at a value of US$ 2.5 billion.

The net liabilities of the CBE to the external world increased to US$ 6.5 billion (from US$ 1.2 billion), mainly because of the pickup in the deposits transferred from some Arab countries. The net inflows of FDI in Egypt retreated by US$ 1.0 billion to US$ 3.0 billion (from US$ 4.0 billion). This was mainly ascribed to the drop in the proceeds of selling local entities to non-residents to reach only US$ 281.7 million (against US$ 1678.2 million). This came despite the fact that the net inflows of greenfield investments rose to US$ 2.4 billion (from US$ 2.1 billion), and those of net oil sector investments increased to US$ 255.5 million (from US$ 130.0 million).

Balance of Payments
(US.$m.) 2011/2012* 2012/2013*

Trade Balance Exports

Petroleum ** Other Exports

-34139.0 25071.9 11225.0 13846.9 -59210.9 -11774.5 -47436.4 5584.7 20872.2 8585.0 5207.8 9419.0 246.1 276.2 2345.9 15287.5 1374.9 2497.6 6725.5 534.6 1151.9 3537.6 -28554.3 18408.0 17775.6 632.4 -10146.3

-31542.0 25971.3 12006.2 13965.1 -57513.3 -12495.7 -45017.6 6692.0 22220.9 9187.5 5031.8 9748.3 197.8 437.6 2649.7 15528.9 1658.7 2928.8 5948.1 556.0 1243.7 3749.6 -24850.0 19267.9 18432.3 835.6 -5582.1

Imports
Petroleum Other Imports

Services (net) Receipts Transportation of which, Suez Canal Travel Investment Income Government Receipts Other Payments Transportation Travel Investment Income** of which, Interest Paid Government Expenditures Other Balance of Goods & Services Transfers Private Transfers (net) Official Transfers (net) Current Account Balance
* Preliminary.

Balance of Payments (cont.)

(US.$m.) 2011/2012* 2012/2013* 9686.7 -86.8 9773.5

Capital & Financial Account Capital Account Financial Account

Direct Investment Abroad Direct Investment In Egypt (net) ** Portfolio Investment Abroad(net) Portfolio Investment in Egypt (net)of which, Bonds Other Investment (net) Net Borrowing
M&L Term Loans (net) Drawings Repayments MT Suppliers Credit (net) Drawings Repayments ST Suppliers Credit (net)

1022.9 -96.0 1118.9

-249.2 3982.2 -148.7 -5025.3 79.6 2559.9 245.8

-310.1 1637.3 -1947.4 -6.9 77.8 -84.7 562.8

-183.6 3004.7 22.4 1477.4 2257.9 5452.6 578.6

183.6 2168.6 -1985.0 -46.9 242.2 -289.1 441.9

Other Assets
Central Bank Banks Other

1163.3
28.0 4365.7 -3230.4

-857.7
-9.8 2061.2 -2909.1

Other Liabilities
Central Bank Banks

1150.8
1168.9 -18.1 -2155.0 -11278.4 11278.4

5731.7
6452.6 -720.9 -3867.6 237.0 -237.0

Net Errors & Omissions Overall Balance

Change in CBE's reserve assets (increase = -)
* Preliminary.

** The data was adjusted according to the received data of the Petroleum Sector.