Egypt’s GDP for FY 2021/22 is expected to rise by 11.5%, following a comprehensive review process, the Ministry of Planning announced.
The Ministry of Planning and Economic Development conducted a comprehensive review of GDP based on the results of the 2017/18 economic census, which was carried out by the Central Agency for Public Mobilization and Statistics (CAPMAS) and released in 2020.
This review process, which lasted for 16 months, resulted in a significant increase in the value of the nominal GDP amounting to EGP 331bn in the FY 2017/2018 raising Egypt’s GDP of the same fiscal year to EGP 4.8 trillion, compared to EGP 4.4 trillion before the review process.
Accordingly, the expected increase in FY 2021/22 is expected to reach EGP 819bn, or 11.5%, raising Egypt’s GDP again to reach EGP 7.9 trillion by year-end.
This round of the economic census was quite comprehensive in its coverage with 3.7 million economic establishments. Out of those establishments, 1,536 were in the public sector and public business sector, and all the rest were in the private sector (formal and informal). The total number of workers in all establishments covered by the census was about 13.5 million.
This review was not only based on the results of the economics census, but it also benefited from the labour force survey data which was used, together with the census data, to estimate the level of informal activity outside establishments. This review has followed relevant methodologies recommended by international organizations such as the IMF and the OECD. Data from the Economic Authorities, the general government as well as mega-national projects was also used to obtain a more representative series of GDP in Egypt.
With regards to the sectoral distribution of the increase in Egypt’s GDP in 2017/2018, the majority of the increase came from the following sectors: construction with 37%), followed by manufacturing at 18%, education and health at 9.4%.
