MEMPHIS REISEN

Egypt’s manufacturing and extractive index inched down 0.55% in November 2023  – Dailynewsegypt

Egypt’s manufacturing and extractive industries saw a slight decline in November 2023, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS). The agency has updated its methodology for calculating the index, now using the 2012/2013 base year and aligning with the Industrial Activity Manual (ISIC Rev.4) classification system.

The overall index (excluding crude oil and petroleum products) dipped 0.55% to 96.25 in November compared to 96.78 in October. However, the performance varied across sectors.

Food and Tobacco Rise on Market Demand:

The food products sector stood out with a robust 2.53% increase, reaching 119.50 in November. This gain was attributed to strong market demand. Similarly, the tobacco products sector jumped 29.68% to 176.63, also driven by market forces.

Challenges in Other Sectors:

Other sectors faced headwinds. The manufacture of electrical equipment, for example, declined 5.74% to 104.21 due to a lack of raw materials. The construction materials sector, encompassing bricks, glass, and cement, also took a hit, falling 5.13% to 84.51 due to market conditions.

The November data suggests a mixed picture for Egyptian manufacturing, with some sectors thriving while others grapple with challenges. Continued monitoring of the index will be crucial to assess the overall health of the industrial sector and identify areas requiring targeted support.