Egypt’s manufacturing, extractive industries contract by 3.86% in September

Ahram Online , Monday 27 Nov 2023

Egypt’s manufacturing and extractive industries (excluding crude oil and petroleum products) contracted by 3.86 percent on a monthly basis in September, according to the updated data of the manufacturing and extractive index by the official statistics agency (CAPMAS).

Pharmaceuticals factory in Egypt. iStock.

The data released on Monday showed that the manufacturing and extractive industries index reached 100.86 points in September, its lowest level since April.

The decline in the index was driven by a 12.16 percent monthly drop in electrical equipment production in September and a 25.63 percent monthly plunge in transport equipment output.

On the other hand, the production of pharmaceuticals increased by 3.07 percent monthly and the paper products output rose by 2.32 percent.

The industrial production index is a monthly economic indicator measuring real output in the manufacturing, mining, electric, and gas industries, relative to the base year 2012/2013.

Egypt’s non-oil trade deficit dropped 34 percent in FY2022/2023, registering $31.6 billion, down from $47.8 billion in FY2021/2022, according to the Central Bank of Egypt.

Non-oil imports dropped 22.2 percent in FY2022/2023, registering $57.4 billion, down from $73.8 billion in FY2021/2022.

Meanwhile, non-oil exports edged lower to $25.8 billion in FY2022/2023 from $25.9 billion in FY2021/2022.