Cityscape in Egypt

Egypt Industrial Production (ann. var. %)

Industrial Production in Egypt

After decelerating in the prior quarter, annual GDP growth was likely moderate in Q3 FY 2023 (January–March 2023). Both headline and core inflation accelerated to multi-year highs in the quarter as the Egyptian pound weakened nearly 20% against the USD, which will have hurt purchasing power. A more aggressive monetary policy stance likely further pressured activity. However, surging tourist arrivals will have provided support. In Q4, the outlook is improving: In April, inflation eased slightly and the non-oil PMI rose to a six-month high. In other news, in early May, Fitch Ratings downgraded Egypt’s rating to ‘B’ with a negative outlook and Moody’s placed the ‘B3’ rating under review for a downgrade. The rating agencies cited increasing risks to the country’s ability to meet financing needs amid constrained financing conditions.

Egypt Industrial Production Chart

This chart displays Industrial Production (annual variation in %) for Egypt from 2013 to 2022.

Egypt Industrial Production Data

2017 2018 2019 2020 2021
Industrial Production (ann. var. %) 7.5 2.7 1.7 -10.1 9.3

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