Egypt

Egypt’s trade deficit declines 2.5 percent to $2.68 billion in April 2024

Egypt's imports declined from $6.01 billion in April 2023 to $5.97 billion in April 2024

Egypt targets raising ICT sector’s contribution to GDP to 8 percent by 2030

ICT sector currently contributes 5.8 percent to Egypt’s GDP

Telecom Egypt partners with Nokia for 5G services in major cities

Nokia will deploy 5G radio access network (RAN) equipment from its industry-leading AirScale portfolio in Egypt

Egypt maintains position as Africa’s top investment destination for second consecutive year: UNCTAD

Egypt accounted for 18.6 percent of Africa's total investments, which amounted to $52.6 billion in 2023

Egypt’s annual urban inflation declines to 27.5 percent in June amid ongoing reforms

This downward trend extends from a record high of 38 percent reached in September 2023

Egypt approves $200 million in energy projects with foreign, national companies

Agreements include a deal to search for and exploit gas and crude oil in the North Port Fouad offshore area in the Mediterranean

Egypt’s economic reforms boost remittances: 26.6 percent monthly rise to $2.7 billion in May 2024

The remittances in May 2023 amounted to around $1.6 billion, as reported by CBE

Egypt’s exports to international blocs rise 5.1 percent to $42 billion in 2023

Egypt's imports from international blocs declined 22 percent in 2023 to $37.5 billion

Egypt’s new government aims for 4.2 percent economic growth in next three years

Egypt's new government aims to increase exports by more than 15 percent annually and attract 30 million tourists by 2028

Egypt’s shipping, logistics market to reach $14.56 billion in 2024, $18 billion by 2029

Promoting multimodal and integrated transport to transform Egypt into a transit trade center

Financial position of Egypt’s banks crosses $373 billion in Q1 2024

Net open foreign currency positions rose to 5.7 percent of banks' total capital base in March 2024

Egypt’s manufacturing and extractive index declines 12.61 percent in April

Egypt's index for basic pharmaceutical product manufacturing declined 15.13 percent from 92.22 in March to 78.27 in April

Egypt’s non-oil sector sees new business growth for first time in three years, says PMI

June PMI reading confirmed that inflationary pressures on businesses had been greatly suppressed in Q2 of 2024

Egypt’s tourism revenues rise 5 percent to $6.6 billion in H1 2024

Egypt welcomed 7.069 million tourists between January and June 2024

Egypt’s net foreign assets record surplus of $14.3 billion in May, first positive reading in 2 years

Egypt's net foreign assets have risen by $43 billion since January due mainly to international support

Egypt’s FDI inflows drop 13.7 percent in 2023, North Africa sees 12 percent drop: Report

A major FDI push in Africa is the increase in mega greenfield projects with six projects each at a value of over $5 billion

Egypt fulfills $25 billion debt obligations, representing 7 percent of GDP: IIF

Egypt targets 3.5 percent primary surplus, 80 percent debt-to-GDP by 2027

Natural gas shortage drives 54 percent surge in Egyptian fertilizer prices

Month-on-month prices reached up to $416.57 per ton in June, compared to $270.83 per ton previously

French investments in Egypt reach $7.2 billion through 940 companies, says PM Madbouly

France to host the Egyptian-French Business Forum to support and enhance Egyptian exports to France

Egypt’s Islamic banking transactions reach $14.5 billion in March 2024

Islamic banking now constitutes 5 percent of the total banking sector in Egypt

Egypt secures $2 billion in budget support from key development partners to boost private sector

During the Egyptian-European Investment Conference, Egypt secured a $1.069 billion agreement with the EU

World Bank announces $700 million in financing for Egypt

The support aims to boost Egypt's private sector, fiscal resilience, and green growth

Egypt’s exports to the U.S. rise by 34.5 percent in Q1 2024

Egypt targets $191 billion by 2026 from merchandise exports, tourism and Suez Canal revenues

U.S. pledges $130 million to support Egypt’s development efforts

This partnership will contribute to stimulating Egypt’s private sector participation in diverse projects