Egypt Macro Economy
$389.1B
GDP (Current USD)
-1.7% vs 2023
2.4%
GDP Growth (2024)
Real GDP growth rate
28.3%
CPI Inflation
Down from 33.9% peak
6.8%
Unemployment
From 13.1% in 2015
GDP Growth Trend
Annual real GDP growth rate (%)
Inflation vs CBE Policy Rate
CPI inflation and central bank benchmark rate (%)
USD/EGP Exchange Rate
Average annual exchange rate
Unemployment Rate
Annual unemployment rate (%)
GDP in Current USD
Nominal GDP (billions USD)
Key Takeaways
- The Egyptian pound depreciated 489% against the US dollar over the decade (7.69 to 45.30 EGP/USD), with dramatic devaluation events in 2016-2017 and 2022-2024 following IMF reform programs.
- Despite severe macro headwinds, unemployment halved from 13.1% to 6.8% — driven by infrastructure mega-projects and expanding services sector employment.
- 2023-2024 saw a challenging combination of inflation spike (peaking at 33.9%) alongside GDP growth slowdown, reflecting the impact of currency devaluation on domestic purchasing power.
- Nominal GDP in USD declined from its 2022 peak of $476.7B to $389.1B, primarily due to exchange rate effects rather than real economic contraction.
Data Sources
World Bank Open Data (GDP, unemployment, inflation) • International Monetary Fund World Economic Outlook • Central Bank of Egypt Statistical Bulletins • Trading Economics • FRED Economic Data