Industry in Egypt
Egypt - IndustryConditions should have started H2 FY 2022 (January–June 2022) on strong footing, following robust economic performance in H1, according to preliminary national accounts data. Industrial output expanded in January–February at only a marginally slower pace than in the previous quarter. That said, dynamics should have slowed halfway through Q3 and into Q4 FY 2022, following the outbreak of the war in Ukraine: The non-oil PMI revealed conditions deteriorated sharply in March–April and employment levels decreased, which coupled with the continued buildup of price pressures will weigh on the external balance and spending. That said, a USD 25 billion pledge of financial assistance from Gulf allies in April will help support the balance of payments. Moreover, the Suez Canal—the government’s main source of foreign reserves—saw record high revenues in April. On 21 April, Fitch Ratings affirmed the country’s ‘B+’ rating with a stable outlook, citing the successful fiscal and economic reforms.
Egypt - Industry Data
|Industrial Production (annual variation in %)||2.3||-0.1||2.1||7.2||2.1|
5 years of economic forecasts for more than 30 economic indicators.
Egypt Industry Chart
Source: Ministry of Planning.
|Bond Yield||13.70||0.0 %||Dec 31|
|Exchange Rate||16.04||0.0 %||Jan 01|
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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.
April 10, 2022
Consumer prices rose 2.21% in March over the previous month, picking up from February’s 1.61% increase.
April 5, 2022
The S&P Global Purchasing Managers’ Index (PMI)—which measures business activity in the non-oil private sector—fell to a 21-month low of 46.5, down from February’s 48.1.
April 1, 2022
The Egyptian pound plunged against the U.S. dollar in recent weeks, falling to its lowest level since 3 February 2017 and trading at 18.54 on 22 March.
March 21, 2022
On 21 March, the Central Bank of Egypt (CBE) held a special monetary policy committee meeting, originally scheduled for 24 March.