Egypt’s February manufacturing output surges 1.5% – CAPMAS

Egypt’s manufacturing and extractive industries index rose 1.5 per cent in February from the previous month, supported by gains in pharmaceuticals and motor vehicle production, official data from the country’s statistics agency CAPMAS showed on Wednesday.

The index, which excludes crude oil and petroleum products, stood at 120.69 points in February, up from a revised 118.88 in January.

The pharmaceuticals, chemicals, and medicinal products sector led the gains, rising 9.05 per cent

Output in the pharmaceuticals, chemicals, and medicinal products sector led the gains, rising 9.05 per cent to 140.48 points in February from 128.82 in January.

Motor vehicle production increased 29.27 per cent to 459.74 points, up from 355.65 a month earlier.

In contrast, the textiles sector fell 7.39 per cent to 149.59 points from 161.52 points, which CAPMAS attributed to reduced working hours during Ramadan.

Printing and recorded media reproduction declined 14.15 per cent to 106.61 points from 124.18 points following the completion of contracts with the Ministry of Education.

CAPMAS said it has updated its methodology, adopting 2012/2013 as the base year and aligning its classifications with the international standard ISIC Rev.4.

Attribution: Amwal Al Ghad English