Cairo – Mubasher: Egypt’s production index of manufacturing and extractive industries, excluding crude oil and petroleum products, rose 10.2% month-on-month in August to 117.22 from 106.33 points, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Thursday.
“Egypt’s manufacturing sector has been one of the main beneficiaries from a weaker pound but the recent rapid pace of growth will be difficult to sustain in the absence of a significant pick up in investment,” Capital Economics said.
CAPMAS attributed this rise to the increase in production of some industries such as pharmaceutical, chemical, and medicines as a result of the seasonal production of winter medicines and setting up new production lines.
The index of pharmaceutical, chemical, and medicine industries rose 5.3% to 137.21 points in August 2017 from 130.35 points in July 2017.
The index of mining and quarrying industry, including salt, stone, and sand, surged 38.8% to 133.43 points in August 2017, compared to 96.10 points in July 2017 due to increased salt production to implement export contracts and use in food industries.
