GDP in Egypt

Egypt - GDP
GDP growth accelerates markedly in Q4 FY 2021
The economy expanded 7.7% year-on-year in the fourth quarter of FY 2021 (April–June), according to estimates released by the Ministry of Planning and Economic Development. The reading, which matched the Central Bank’s estimate published in its monetary policy statement on 16 September, followed the 2.9% increase logged in the third quarter of the fiscal year. It marked the strongest growth rate since at least Q4 FY 2008, although it was supported by a low base effect.
Domestically, fixed investment returned to growth after contracting for six consecutive quarters, skyrocketing 96.4% in annual terms (Q3: -11.3% yoy). However, private consumption growth eased to 1.4% in the period (Q3: +7.7% yoy), and government spending increased at a softer pace of 2.1% in Q4 following the prior quarter’s 5.7% rise.
Meanwhile, the external sector contributed positively to the overall GDP reading, as exports of goods and services bounced back to a 53.7% expansion in Q4 from the 6.3% decline recorded in the previous quarter. Meanwhile, growth in imports of goods and services accelerated to 32.6% in Q4 from the 6.3% expansion clocked in Q3.
Going forward, the recovery should continue in the new fiscal year, although the pace of growth will likely ease in the coming quarters, partly due to the fading base effect. That said, rapidly increasing daily Covid-19 infection rates, coupled with the still-sluggish vaccine rollout, could see restrictions tightened again and potentially drag on activity.
FocusEconomics Consensus Forecast panelists project the economy to expand 5.0% in FY 2022, which is up 0.1 percentage points from last month’s forecast, and 5.1% in FY 2023.
Egypt - GDP Data
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Economic Growth (GDP, annual variation in %) | 4.4 | 4.3 | 4.2 | 5.3 | 5.6 |
Egypt GDP Chart

Source: Ministry of Planning.
Egypt Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 13.70 | 0.0 % | Dec 31 |
Exchange Rate | 16.04 | 0.0 % | Jan 01 |
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Economic News
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Egypt: Inflation comes in at three-year high in May
June 10, 2022
Consumer prices increased 1.03% in May over the previous month, which was a sharp moderation from April's 3.26% rise.
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Egypt: Central Bank hikes rates further in May meeting
May 19, 2022
At its monetary policy meeting on 19 May, the Central Bank of Egypt (CBE) increased all of its key rates by 200 basis points, bringing the overnight deposit, the overnight lending and main operations rates to 11.25%, 12.25% and 11.75%, respectively.
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Egypt: Inflation rises to near three-year high in April
May 10, 2022
Consumer prices increased 3.26% over the previous month in April, picking up from March's 2.25% rise.
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Egypt: PMI improves marginally in April; conditions continue to sharply deteriorate
May 8, 2022
The S&P Global Purchasing Managers’ Index (PMI)—which measures business activity in the non-oil private sector—came in at 46.9 in April, up marginally from March's 21-month low of 46.5.
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Egypt: Inflation jumps to near three-year high in March
April 10, 2022
Consumer prices rose 2.21% in March over the previous month, picking up from February’s 1.61% increase.