A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
February 25 to March 2 Coverage:
An investment initiative for FY 2020/21 aims to cover 56% of the citizens of underdeveloped areas, according to the Cabinet.
Unemployment rate dropped from 8.9% in 2018, reaching 8% in 2019. Additionally, labor force increased to reach 28.9 million individuals in 2019, from 28.4 million individuals in 2018, representing a 1.9% increase, according to MPED.
During Q4 2019, the labor force participation rate in economic activity has increased for the first time in three years to reach approximately 43.1% of the total labor force, and 16.4% of female participation, according to MPED.
Labor force in rural areas recorded an increase of 4.8 million individuals than in urban areas during Q4 2019, MPED reported.
According to CAPMAS, the trade deficit reached $3.45 billion in December 2019 against $3.87 billion recorded in 2018; decreasing by 10.8%.
CAPMAS reported that exports increased by 0.5% recording $2.59 billion in December 2019 against $2.57 billion during the same period in 2018.
Imports decreased by 6.2% reaching $6.04 billion in December 2019 compared to $6.44 billion in December 2018, according to CAPMAS.