Gross domestic product (GDP) growth rate in Egypt 2024

The growth rate of Egypt’s gross domestic product (GDP) in 2018 was 5.31 percent after adjusting for inflation. At that time, the Egyptian economy was projected to increase growth to around 6 percent in 2021, where the forecast remains for the foreseeable future.

What is GDP?

Gross domestic product, or GDP, is the sum of all consumption, investment, and government spending in an economy, plus the net exports. This figure is the most commonly used measurement of an economy’s size. Also interesting is GDP per capita, which is GDP divided by the total population. This gives an idea of the level of development in a country.

Reasons to follow GDP growth

GDP growth can give an idea of a country’s future finances. This is important for countries with a negative budget balance. These countries need to secure loans to finance their deficits, and higher growth forecasts show a better ability to repay these loans. This results in lower interest rates on their sovereign debt. Egypt’s economy is quite stable for now, after years of political unrest that affected the economy.

Egypt: Growth rate of the real gross domestic product (GDP) from 2014 to 2024

GDP growth compared to previous year
2024*6%
2023*5.95%
2022*5.97%
2021*5.96%
2020*5.87%
2019*5.52%
20185.31%
20174.08%
20164.35%
20154.37%
20142.92%
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Source

Release date

October 2019

Region

Egypt

Survey time period

2014 to 2018

Supplementary notes

* Estimate.

Values have been rounded.

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Statistics on "Egypt"

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