Last Update 22:17
Friday, 15 November 2019

Real GDP contracts 8.6 per cent quarter-on-quarter in 1Q2011

Fall to LE199 billion due to drops in tourism, transport, construction and manufacturing caused by the revolution, says investment bank

Ahram Online, Sunday 3 Jul 2011
Share/Bookmark
Views: 1429
Share/Bookmark
Views: 1429

Egypt’s real Gross Domestic Product contracted by 8.6 per cent quarter-on-quarter in 1Q2011, according to date from the Ministry of Economic Development.

Figures show real GDP contracted from LE217.6 billion in 4Q2010 to reach LE199 billion in 1Q2011.

A note from investment bank Beltone Financial said the overall fall in in real GDP was mainly due to a quarterly contraction in four significant sectors of the economy, namely: a 37.5 per cent fall in hotels and restaurants sector (a proxy for tourism); an 18.9 per cent one in transportation; 18.3 per cent in construction, and 13.6 per cent in manufacturing.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.