Egypt’s economy expanded by 4.77% in the third quarter of the 2024/25 fiscal year, more than doubling the 2.2% growth recorded during the same period last year, the Ministry of Planning announced on Monday. The rebound is largely credited to a sharp revival in manufacturing, even as oil and gas production continues to weigh down overall performance.
The North African country, whose fiscal year runs from July to June, saw its manufacturing sector surge by 16.3% during the third quarter. This marks a strong reversal from the 3.9% contraction posted in the equivalent quarter of the previous fiscal year, signalling renewed momentum in industrial output.
However, the gains were tempered by continued weakness in the extractive sector. Oil and natural gas extraction shrank by 10.38%, extending a trend of underperformance in a traditionally key contributor to the national economy.
Meanwhile, fresh data from the ministry revealed further pressure on Egypt’s external revenues. Suez Canal income declined to \$900 million in the fourth quarter, down from \$1.1 billion in the same quarter a year earlier. For the third quarter, canal activity was down 23.1% year-on-year. While this was a marked improvement from the 51.6% plunge recorded in the corresponding quarter last year, the ministry did not release specific revenue figures.
The third-quarter performance underscores a mixed recovery path for Egypt—marked by a strong industrial rebound but persistent challenges in the energy and trade sectors. As regional economies across Africa face shifting global dynamics, Egypt’s growth patterns reflect broader trends of resilience amid uncertainty.