Monday Minutes: Economic Snapshot

Monday Minutes: Economic Snapshot

A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.

August 29 Coverage to September 6:

Egypt Purchasing Managers’ Index (PMI) recorded 49.8 in August, up from 49.1 in July, to meet the expected rise in raw materials prices and demand increase, according to IHS Markit.

Egypt’s Gross Domestic Product (GDP) grew 7.7% in Q4 2020/21, Hala Al-Said, the Minister of Planning and Economic Development, stated.

The contribution of the wholesale and retail trade, industry, agriculture and real estate sectors to the GDP has increased to 47.6% in Q4 2020/21, Hala Al-Said, the Minister of Planning and Economic Development, said.

Ministry of Planning and Economic Development (MPED) targets increasing Suez Canal’s revenues to EGP 99.3 billion in the plan of fiscal year (FY) 2021/22.

The Suez Canal is the main artery for global trade movement which 25% of the contained goods global movement and 10% of the total global trade movement pass through it, MPED declared.

The Suez Canal has the capacity to accommodate 100% of the global fleet of container ships, 93% of the dry bulk vessels and 62% of the petroleum tankers, MPED remarked.

Nearly 11% of the total Egyptian exports go to the UAE, Rania Al-Mashat, the Minister of International Cooperation, stated.

UAE contributes in projects of investments exceeding $7 billion in Egypt, Rania Al-Mashat, the Minister of International cooperation, mentioned.

The US imports from Egypt reached $ 1.6 billion and Egyptian imports from US have declined by 6.1% to $4.7 billion in 2020, Central Agency for Public Mobilization and Statistics (CAPMAS) said.

Egypt’s exports to the South American Common Market (MERCOSUR) recorded $ 396 million in 2020, the Ministry of Trade and Industry (MTI) announced.








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