Africa Economy – June 2013

Source: OPEC 6/25/2013, Location: Africa

Overall, African economies are expected to register a good rate of growth in 2013 at 4.4%, following an even better performance last year, mainly due to the comeback of Libya’s oil production. Supported by expansion in commodity exports, Sub-Saharan Africa is registering quick rates of economic growth, anticipated to reach 4.8% this year up from 4.0% in 2012.

The latest improvement in Egypt’s May PMI, from 44.2 to 48.5, signals salient slowing in the increasing rate of contraction seen over the past three months. Though still in contraction, Egypt’s PMI is now at its closest point to expansion since last December. The Egyptian economy is projected to grow marginally faster this year at 2.0%, after an estimated expansion of 1.9% last year. However, the direction of the economy will remain largely affected by the level of political uncertainty, especially during the tourism season; tourism accounted for around 13% of the country’s GDP in 2010.

North Africa is foreseen to receive more economic support from tourism activities this year. Based on this, Tunisia and Morocco are upwardly revising their economic growth rates by 0.20% each, thereby reaching 3.0% and 3.1%, respectively.


India >>  8/1/2022 - PTTEP revealed its first-half of 2022 operating results with an increase in average sales volume primarily from Oman Block 61 Project and G1/61 Projec...
South Africa >>  8/1/2022 - Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to announce its results for th...

Switzerland >>  8/1/2022 - - Total contract drilling revenues were $692 million, compared to $586 million in the first quarter of 2022 (total adjusted contract drilling revenues...
United States >>  8/1/2022 - – Record Q2 Revenue and Profit with Growth Across All Business Lines –
– Continued Momentum in New Project Awards and Proposal Activity –
...


United States >>  8/1/2022 - CVR Energy, Inc. announced net income of $165 million, or $1.64 per diluted share, on net sales of $3.1 billion for the second quarter of 2022, compar...
United States >>  8/1/2022 - Comstock Resources, Inc. reported financial and operating results for the quarter ended June 30, 2022.

Highlights of 2022's Second Quarter ...


Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.