Egypt: GDP picks up in Q4 of FY 2015
January 15, 2016
According to official data, GDP increased 4.5% in the April–June period (the fourth quarter of fiscal year 2015) over the same period of the previous year. This marked an acceleration from the 2.6% increase tallied in the third quarter of FY 2015 and the strongest result in the last three quarters.
On the domestic side, private consumption expanded 1.5%, which followed the 0.6% expansion in Q3. Government private consumption growth slowed to 3.3% in Q4 (Q3: 4.2% year-on-year). Overall, the positive performance of consumption partially offset the 3.0% drop in gross investment. On the external side, exports dropped 4.1% in Q4 after having contracted 12.0% in Q3. Meanwhile, imports fell 15.7% in Q4 amid government measures to reduce the import bill.
In the full FY 2015, the economy grew 4.2%, marking an acceleration over the 2.2% expansion in FY 2014 and the strongest growth since 2010.
Author: Armando Ciccarelli, Head of Data Solutions