Egypt’s manufacturing industry index drops about 4% in October

RIYADH: Egypt’s manufacturing industry index recorded a monthly decline of 3.98 percent in October, reflecting a decrease in electrical appliances and medical production, the official data showed. 

The preliminary data from the Central Agency for Public Mobilization and Statistics showed a decline in the overall production index of manufacturing and extractive industries, excluding crude oil and petroleum products. The index stood at 96.70 in October, down from 100.71 in September.

The CAPMAS data indicated a decline in production for the electrical appliances industry, with the index dropping to 110.56 in October from 112.51 in the previous month. This decrease of 1.73 percent was due to a shortage of necessary raw materials, which was cited as the primary reason for this downturn.

The pharmaceutical, chemical, and medicinal products industry also declined, with the index reaching 112.44 in October, down from 115.50 in September, reflecting a decrease of 2.65 percent, aligning with market requirements.

However, the index for the chemical materials and products industries reached 76.56 in October, compared to 73.45 the previous month, reflecting an increase of 4.23 percent. This rise was due to market demand for these products. 

In the wood and cork products industries, the index reached 33.43 in October, rising from 31.77 in September, with a percentage increase of 5.23 percent, responding to market needs.  

This data provides insights into Egypt’s manufacturing sector dynamics, shedding light on the specific industries and factors contributing to the observed fluctuations.

While manufacturing has experienced a decline, Egypt has been grappling with inflation for quite some time.

However, its annual urban consumer price inflation slightly decreased to 36.4 percent in November, down from 38.5 percent in October, according to the latest data from CAPMAS.

The drop was primarily due to a slowdown in the escalation of food prices. This easing of inflation comes after a continuous upward trend spanning two years, with September recording a peak inflation rate of 40.3 percent.

November’s figures mark the lowest inflation rate since May, indicating a possible stabilization in Egypt’s urban consumer prices.

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