Egypt GDP Growth Rate

The Gross Domestic Product (GDP) in Egypt expanded 1.04 percent in the third quarter of 2013 over the same quarter of the previous year. GDP Growth Rate in Egypt is reported by the Central Bank of Egypt. From 1992 until 2013, Egypt GDP Growth Rate averaged 3.8 Percent reaching an all time high of 7.3 Percent in March of 2008 and a record low of -4.3 Percent in March of 2011. Egypt has one of the most developed and diversified economies in the Middle East. Until 2010, Egyptian economy was growing an average 5 percent a quarter as a result of several economic reforms attracting foreign investments. During that time, the economy and the living standards for majority of population improved. Yet, living conditions for the average Egyptian still remained poor and large income disparities continued to grow, leading to the public discontent. The 2011 revolution, which brought down President Hosni Mubarak regime, have caused economic slowdown as political and institutional uncertainty and rising insecurity continue to hurt tourism, manufacturing, and construction. This page provides - Egypt GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.04 1.50 7.30 -4.30 0.87 | 2013/12 1992 - 2013 Percent Quarterly

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Egypt GDP Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP per capita 1559.61 2012-12-31 1551.40 1559.61 323.94 1570.04 2014-06-30 USD [+]
GDP per capita PPP 5794.56 2012-12-31 5764.07 5794.56 2404.78 5833.34 2014-06-30 USD [+]
GDP 257.29 2012-12-31 236.00 257.29 4.00 289.51 2014-06-30 USD Billion [+]
GDP Constant Prices 390746.30 2013-11-15 399724.00 399724.00 316764.40 391948.48 2014-06-30 EGP Million [+]
GDP Growth Rate 1.04 2013-09-30 1.50 7.30 -4.30 0.87 2013-12-31 Percent [+]
GDP Annual Growth Rate 1.04 2013-09-30 1.50 7.30 -4.30 0.87 2013-12-31 Percent [+]
Gross Fixed Capital Formation 40.00 2013-08-15 65.00 74259.00 -132567.00 -7900.77 2013-09-30 EGP Billion [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Egyptian Inflation Rate Unchanged in March  
The annual consumer prices increased 9.82 percent in March of 2014, almost unchanged from 9.76 percent in the previous month. A year earlier, the inflation rate was recorded at 7.59 percent.
Egypt Inflation Rate Down to 6-Month Low  
In February of 2014, Egypt’s annual inflation rate decelerated to 9.8 percent from 11.4 percent in January. In November last year, the inflation rate reached its highest in four and a half years and slowed in February for the third straight month.
Central Bank of Egypt Leaves Rates on Hold  
At its February 27th meeting, the Monetary Policy Committee decided to keep the overnight deposit rate at 8.25 percent for the second consecutive month, in an attempt to stimulate the economy while controlling the inflation. The overnight lending rate, and the CBE rate were also maintained at 9.25 percent and 8.75 percent, respectively.
Egypt Inflation Rate Decelerates in January  
In January of 2014, Egyptian annual inflation rate slowed for the second straight month to 11.4 percent from 11.7 percent recorded in December, due to favorable base effect from the previous year. In November of 2013, the inflation rate hit a four-year high of 12.97 percent.
Egypt Monetary Policy Unchanged in January  
At its January 16th meeting, Central Bank of Egypt decided to leave the overnight deposit rate unchanged at 8.25 percent, after last month's cut, aiming to fight persistent downside risks to growth.
Egypt Inflation Rate Slows to 4-Month Low in December  
In December of 2013, Egypt annual inflation rate slowed for the first time in four months to 11.7 percent, driven by lower housing, food and utilities’ prices.
Egypt Inflation Rate Edges Up to 12.97% in November  
In November of 2013, Egypt inflation rate climbed to 12.97 percent, the highest rate in almost five years. On a monthly basis, prices slowed for the second straight month to 0.95 percent.
Central Bank of Egypt Cuts Rates  
At its December 5th meeting, Central Bank of Egypt decided to cut the overnight deposit rate by 50 bps to 8.25 percent. It is the third rate cut his year, citing pronounced downside risks to growth. The discount rate was also cut by 50 basis points to 8.75 percent.
Egypt Inflation Rate Up to 10.4% in October  
In October of 2013, Egyptian annual inflation rate accelerated to 10.44 percent, from 10.15 percent in September, mainly due to higher food prices. Core inflation rate remained steady.
Central Bank of Egypt Leaves Rates On Hold  
The Monetary Policy Committee of the Central Bank of Egypt decided on October 31st to leave the overnight deposit rate unchanged at 8.75 percent, after cutting it by 50 bps in the previous two meetings.
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