Egypt's Macroeconomic Analysis:
Nominal GDP of USD 394 billion in 2023.
Nominal GDP of USD 383 billion in 2024.
GDP per capita of USD 3,558 compared to the global average of USD 10,589.
GDP per capita of USD 3,727 compared to the global average of USD 10,589.
Average real GDP growth of 4.2% over the last decade.
Average real GDP growth of 4.2% over the last decade.
Sector Analysis
In 2021, services accounted for 57% of overall GDP, manufacturing 15%, other industrial activity 16%, and agriculture 12%. Looking at GDP by expenditure, private consumption accounted for 89% of GDP in 2021, government consumption 8%, fixed investment 12%, and net exports -9%.International trade
In 2021, manufactured products made up 46% of total merchandise exports, mineral fuels 32%, food 14%, ores and metals 4% and agricultural raw materials 1%, with other categories accounting for 3% of the total. In the same period, manufactured products made up 56% of total merchandise imports, mineral fuels 14%, food 20%, ores and metals 7% and agricultural raw materials 2%, with other goods accounting for 1% of the total. Total exports were worth USD 40 billion in 2023, while total imports were USD 71 billion.Main Economic Indicators
Economic growthThe economy recorded average annual growth of 4.1% in the decade to 2022. To read more about GDP growth in Egypt, go to our dedicated page.
Fiscal policy
Egypt's fiscal deficit averaged 9.5% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 10.6% in the decade to 2022. For more information on Egypt's unemployment click here.
Inflation
Inflation averaged 11.6% in the decade to 2022. Go to our Egypt inflation page for extra insight.
Monetary Policy
Egypt's monetary policy rate ended 2022 at 16.25%, up from 9.25% a decade earlier. See our Egypt monetary policy page for additional details.
Exchange Rate
From end-2012 to end-2022 the pound weakened by 74.2% vs the U.S. dollar. For more info on the pound, click here.
Economic situation in Egypt
Our Consensus is for year-on-year GDP growth to have accelerated further in Q1 FY 2025 (July–September 2024), following the prior quarter’s 2.4% rise—a view shared by the Central Bank. Conditions were likely still challenging, nonetheless. The unemployment rate inched up, interest rates remained at record highs, and inflation was nearly triple the upper bound of the Central Bank’s target. More positively, in September, wage growth rose above inflation for the first time since February 2022, suggesting an incipient recovery in purchasing power. Additionally, in Q1 compared to Q4, industrial output declined less and the non-oil PMI averaged slightly higher. Furthermore, merchandise exports growth hit an over two-year high in Q1. In related news, the IMF recently said that regional conflict and Red Sea disruptions have hit receipts from the Suez Canal by up to 70%.Egypt Economic Forecasts
Projections out to 2034.48 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 28 expert analysts.
Want to get insight on the economic outlook for Egypt in the coming years? FocusEconomics collects projections out to 2034 on 48 economic indicators for Egypt from a panel of 28 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Egypt economy. To download a sample report on the Egypt's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.