FX.co ★ Egypt GDP Growth Accelerates to 3-Year High

Egypt's economy experienced a notable expansion of 4.77% in the third quarter of its fiscal year 2024/25, representing the most rapid growth in three years. This is a significant improvement from the 2.2% increase observed in the same quarter the previous year, according to preliminary estimates. A key contributor to this growth was the manufacturing sector, which rebounded impressively with a 16.3% increase, recovering from a 3.9% decline during the equivalent quarter of the prior year. In contrast, the extraction of oil and natural gas continued to contract, with a further decrease of 10.38%. Furthermore, activity in the Suez Canal decreased by 23.1%, following a substantial 51.6% decline in the year before.