Industry in Egypt

Egypt Industry | Economic News & Forecasts

Egypt - Industry

Preliminary data showed that the economy contracted in Q2, as the pandemic and associated lockdown measures impaired activity. GDP growth is estimated to have slowed to 3.8% for the fiscal year 2020 (July 2019 to June 2020), having increased 5.6% in the July–December period: Collapsing tourism, slumping gas prices and spiking unemployment will have all weighed on activity. Turning to the new fiscal year, the continued reopening of the economy and resumption of international travel bode well for an uptick in activity. PMI data for July–August revealed expanding output and new business, despite the headline figures indicating mild contractions in overall conditions. Meanwhile, on 31 August, Moody’s reaffirmed both its B2 credit rating and stable outlook for Egypt, citing effective economic policies, strong foreign exchange holdings and relatively low levels of foreign-denominated debt.

Egypt - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)2.3  -0.1  2.1  7.2  2.1  

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Egypt Industry Chart

Egypt Industry
Note: Annual variation of industrial production in %.
Source: Ministry of Planning.

Egypt Facts

Value Change Date
Bond Yield13.700.0 %Dec 31
Exchange Rate16.040.0 %Jan 01

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