An Overview of the Economy
The IMF has rated Egypt as one of the world's top countries in
terms of economic reform, a statement that is supported by 25%
annual capital growth, 7-8% annual GDP growth and a total annual
FDI input of over $11 billion (latest figures available). As the
GDP growth rate and the country's official reserves increase and
national debt falls, the country only looks to be getting richer.
Recent economic success is attributable to the privatisation of
certain sector industries and reforms introduced by the government
to customs, income and taxation.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
404.0 |
| GDP (PPP) (CIA) (US$Billions) |
404.0 |
| GDP Growth (IMF) (%) |
7.1% |
| GDP Growth (CIA) (%) |
7.1% |
| GDP Per Capita (PPP) (IMF) (US$) |
5,490 |
| GDP Per Capita (PPP) (CIA) (US$) |
5,500 |
| GDP by Sector (%) |
Agriculture: 13.8%
Services: 45.1%
Industry: 41.1% |
| Inflation (%) |
11% |
| Population Below the Poverty Line (%) |
20% |
| Labour Force (Millions) |
22.1 |
| Labour Force by Occupation (%) |
Agriculture: 32%
Services: 51%
Industry: 17% |
| Unemployment (%) |
9.1% |
| Main Industries |
Textiles, food processing, tourism,
chemicals, pharmaceuticals,
hydrocarbons, construction, cement,
metals, light manufactures. |
Sources: CIA World Factbook, IMF
GDP
Egypt's GDP has seen healthy annual growth of 5% in 2005-2006,
reaching 7% in 2007. The growth rate is expected to continue if
certain economic reforms are pursued.
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
289.6 |
309.7 |
333.3 |
367.4 |
404.0 |
| GDP Growth (%) |
1.7% |
3.1% |
4.5% |
4.9% |
7.1% |
| GDP Per Capita (US$) |
1,197 |
1,136 |
1,269 |
1,488 |
1,738 |
| GDP Per Capita (PPP) (US$) |
4,260 |
4,466 |
4,713 |
5,093 |
5,490 |
| Inflation (%) |
4.3% |
4.3% |
9.5% |
4.9% |
6.5% |
| Unemployment (%) |
12.0% |
9.9% |
10.9% |
9.5% |
10.3% |
Foreign-Exchange
& Gold Reserves (US$Billions) |
- |
14.2 |
14.0 |
21.39 |
26.3 |
| Mobile Phone Users |
380,000 |
5,797,500 |
8,358,940 |
14,045,134 |
18,001,000 |
| Internet Users |
600,000 |
2,700,000 |
4,200,000 |
5,000,000 |
6,000,000 |
Sources: CIA World Factbook, IMF
Major Exports & Imports
Egypt has a thriving export market, the majority of which
consists of natural gas, textiles, chemicals, foodstuffs and
construction commodities. The USA and Italy are the largest
consumers of Egyptian goods.
major exports 2007
Crude oil and petroleum products, cotton, textiles, metal
products, chemicals.
major imports 2007
Machinery and equipment, foodstuffs, chemicals, wood products,
fuels.
| export partners |
% of total |
| Italy |
12.0% |
| US |
11.3% |
| Spain |
8.7% |
| UK |
5.5% |
| France |
5.4% |
| Syria |
5.1% |
| Saudi Arabia |
4.3% |
| Germany |
4.2% |
| import partners |
% of total |
| US |
11.4% |
| China |
8.3% |
| Germany |
6.5% |
| Italy |
5.4% |
| Saudi Arabia |
5.0% |
| France |
4.6% |
Source: CIA World Factbook
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