Egypt’s industrial production ups by 11.7% in Q1

euro money

The volume of Egyptian industrial production rose by 11.7 percent during the first quarter of 2017, Egypt’s statistics body said Monday.

Industrial production in that quarter, excluding crude and refined petroleum, recorded 127.7 billion pounds, from 114.3 billion pounds in fourther quarter of 2016, according to the county’s state-run statics agency (CAPMAS).

The coke and petroleum products sector made the largest contribution to the industrial sector, representing 14.6 percent of the total industrial production volume.

Meanwhile, production of food industries registered 33.3 billion pounds in first quarter, compared to 25.2 billion pounds during the fourth quarter. As for the steel and iron sector, the production volume registered 14.8 billion pounds during the first quarter, increasing 37.7 percent compared to the previous quarter in 2016.

The investment’s growth rate in the industrial sector hiked up by 30 percent in 2017, the Head of Investment Committee of the Federation of Egyptian Industries (FEI), Mahmoud Soliman, told Egypt Today Saturday.

“Reducing imports resulted in domestic industrial growth because it enables Egyptian manufacturers to produce local alternatives with home components,” Soliman explained. Source: Egypt today

Leave a comment