Egypt's current account deficit narrowed to $5.3 billion in July-March of the financial year 2022/23 compared to $13.6 billion in the same period a year earlier, driven by an increase in the revenues of tourism and the Suez Canal, the central bank said on Tuesday.

Tourism revenues were $10.3 billion and Suez Canal revenues totalled $6.2 billion.

Egypt's net foreign direct investment inflows reached $7.9 billion compared to $7.3 billion in the same period a year earlier, the central bank added.

Remittances from Egyptian workers abroad decreased by 26.% to $17.5 billion compared to $23.6 billion in the same period a year earlier.

Egypt's current account showed a surplus for the first time in years in the October-to-December quarter of FY 2022/23, which ended in June, imports dropped and exports rose, the central bank said.

(Reporting by Nayera Abdallah, Jana Choukeir and Ahmed Elimam; Editing by Susan Fenton and Ed Osmond)