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 |