Egypt GDP Annual Growth Rate

Egypt's economy advanced by 4.3% year-on-year in the last quarter of 2024, marking its fastest expansion since Q3 2022 and accelerating from a 3.5% increase in the previous quarter, according to the planning ministry. The growth was driven by strong performances in key sectors, including tourism (+18%) and trade-related transport. Non-oil manufacturing grew by 17.7%, helped by faster customs clearance for raw materials and an easing foreign-currency shortage. On the other hand, the Suez Canal saw a sharp decline of 70%, as ongoing geopolitical tensions reduced ship traffic. Extraction activity fell by 9.2%, with oil down 7.5% and gas dropping 19.6%.