Egypt officially the Arab Republic of Egypt, is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world. Covering an area of about 1,010,000 square kilometers (390,000 sq mi), Egypt is bordered by the Mediterranean Sea to the north, the Gaza Strip and Israel to the northeast, the Red Sea to the east, Sudan to the south and Libya to the west.

Egypt's economy depends mainly on agriculture, media, petroleum exports, exports of natural gas, and tourism; there are also more than three million Egyptians working abroad, mainly in Saudi Arabia, the Persian Gulf and Europe. The completion of the Aswan High Dam in 1970 and the resultant Lake Nasser have altered the time-honored place of the Nile River in the agriculture and ecology of Egypt. A rapidly growing population, limited arable land, and dependence on the Nile all continue to overtax resources and stress the economy.

The government has invested in communications and physical infrastructure. Egypt has received U.S. foreign aid (since 1979, an average of $2.2 billion per year) and is the third-largest recipient of such funds from the United States following the Iraq war. Its main revenues however come from tourism as well as traffic that goes through the Suez Canal.Egypt has a developed energy market based on coal, oil, natural gas, and hydro power. Substantial coal deposits are in the northeast Sinai, and are mined at the rate of about 600,000 metric tons (590,000 long tons; 660,000 short tons) per year. Oil and gas are produced in the western desert regions, the Gulf of Suez, and the Nile Delta. Egypt has huge reserves of gas, estimated at 1,940 cubic kilometres (470 cu mi), and LNG is exported to many countries.

Economic conditions have started to improve considerably after a period of stagnation from the adoption of more liberal economic policies by the Government, as well as increased revenues from tourism and a booming stock market. In its annual report, the International Monetary Fund (IMF) has rated Egypt as one of the top countries in the world undertaking economic reforms.Foreign direct investment (FDI) into Egypt has increased considerably in the past few years, exceeding $6 billion in 2006, due to the recent economic liberalization and privatization measures taken by minister of investment Mahmoud Mohieddin.

Source: Wikipedia, Economy of Egypt.


General Information
Official Name Arab Republic of Egypt
Capital Cairo
Main Cities Alexandria, Ismailia, Port Said, Giza
Languages Arabic(Official), English, French
Government Republic
Independence Day 28 February, 1922
Area 1,001,450 sq km(land:995,450 sq km; water:6,000 sq km)
Population 84,500,000 (July 2013 est.)
Currency Egyptian Pound(EGP)
Climate Moderate (rainfall and warm), coastal weather
Time Zone EET(UTC +2), Summer (DST) EEST(UTC+3)
Main Airports Int'l Airport of Cairo, Luxor (Luxor City), Ophira (Sharm el-Sheikh), El-Arish(Mediterranean Coast)
Main Harbors Alexandria Port, Damietta Port, Red Sea Ports Authority, Suez Canal Container Terminal, Suez Port
Source: National sources,2013
Economic Information
  2005 2006 2007 2008 2009 2010 2011 2012
GDP  
Nominal GDP (US$bn) 93.2 107.9 129.8 159.2 190.0 245 243 254
Real GDP Growth (%) 4.5 6.8 7.1 7.2 4.7 5.1 1.78 2.21
Expenditure on GDP (% real change)
Private Consumption 4.8 6.4 8.8 5.7 4.5 4.5 4 4.2
Government Consumption 2.8 3.1 0.2 2.1 8.4 4.0 4.5 5.0
Gross fixed Investment 14.2 13.8 23.7 14.8 -10.2 2.0 1.5 3.0
Export of goods & Services 20.2 21.2 20.2 28.8 -12.8 2.0 2.1 2.3
Import of goods & Services 23.8 21.7 30.5 26.3 17.7 4.0 4.2 4.3
Origin of GDP (%real change)
Agriculture 3.3 3.3 3.7 3.3 3.2 3.2 3.3 3.5
Industry 3.1 9.7 5.9 6.1 5.1 4.8 4.0 4.3
Services 5.9 5.4 20.2 8.2 4.2 4.0 4.1 4.3
GDP per capita(US$ at PPP) 4,321 4,679 5,060 5,438 5,652 5,712 5,706 5,830
Recorded Unemployment(av,%) 11.2 10.6 8.9 8.7 9.3 9.0 9.1 9.2
Fiscal Indicator (% of GDP)
Central government revenue 20.6 24.5 24.6 25.7 26.8 25.1 25.4 25.8
Central government expenditure 30.0 33.6 30.4 32.7 33.4 33.8 33.8 35.4
Central government balance -9.6 -8.2 -7.5 -7.1 -6.5 -6.6 -9.8 -10.8
Central government debt 130.8 114.2 102.9 88.3 79.7 75.1 80 81.5
Prices and financial indicators
Exchange Rates Tk:US$ (end-period) 5.78 5.73 5.63 5.43 5.55 5.64 5.63 6.07
Consumer Prices (av.; % change) 4.9 7.6 9.5 18.3 11.8 11.2 10.11 10.16
Stock of money M1(%change) 20.4 20.0 25.1 14.9 12.4 11.5 12.5 12.4
Stock of money M2(%change) 11.5 15.0 19.1 10.5 9.0 10.1 10.4 10.6
Lending interest rate(av.;%) 13.1 12.6 12.5 12.3 12.1 12.0 12.1 12.2
Current Account(US$m)
Trade Balance -11,127 -12,558 -20,494 -26,774 -22,573 -26,485 -28,485 -40,200
Goods: exports fob 16,073 20,546 24,455 29,849 24,993 26,438 30,782 34,384
Goods: imports fob -27,200 -33,104 -44,949 -56,623 -47,567 -52,923 -59,267 -74,584
Services Balance 7,517 8,689 11,195 14,312 12,135 7,218 8,524 8,916
Income Balance 69 831 1,478 1,373 778 817 820 839
Current-account Balance 2,207 2,731 501 -1,331 -2,789 -2,017 -2,153 -2,349
External Debt (US$m)
Debt Stock 29,655 29,351 32,830 32,616 28,778 33,000 35,166 36,186
Debt service paid 2,284 2,487 2,740 3,131 5,187 6,711 6,957 7,19
Interest 647 773 881 934 806 914 924 935
International reserves(US$m)
Total international reserves 21,338 25,581 31,274 33,849 33,933 34,171 34,764 35,016
Source: IMF, International Financial Statistics 2013
Egypt Trade with World
US$ Mn. 2006 2007 2008 2009 2010 2011 2012
Export (fob) 21,803 25,434 32,007 25,141 26,438 30,782 34,384
Import (cif) 39,785 50,758 64,659 58,188 52,923 59,267 74,584
Trade Volume 61,588 76,192 96,666 83,329 79,361 90,049 108,968
Trade Balance -17,982 -25,324 -32,652 -33,047 -26,486 -28,485 -40,200
World Trade (US$ Billion) 24,294 27,845 32,215 24,948 28,143 35,397 36,355
Share 0.25% 0.27% 0.30% 0.33% 0.28% 0.25% 0.3%
Source: IMF, International Financial Statistics 2013
Egypt Trade with D-8 Countries
US$ Million. 2006 2007 2008 2009 2010 2011 2012
Export (fob) 632.39 972.70 1426.01 1,128.44 1,651 2,153 2,178
Import (cif) 1,782.38 2,305.73 3,384.33 4,389.34 3,198 4,400 6,713
Trade Volume 2,414.77 3,278.43 4,810.34 5,517.78 4,849 6,553 8,891
Trade Balance -1,149.99 -1,333.03 -1,958.32 -3,260.9 -1,547 -2,247 -4,535
D-8 Intra Trade (US$ Mn) 49,806.52 66,828.03 78,382.2 66,947.63 101,139 129,493 148,191
Share 4.85% 4.90% 6.13% 8.24% 4.79% 5.06% 6.0%
Source: IMF, International Financial Statistics 2013
Egypt Trade By 10 Main Commodities
Export by 10 Principal Commodities, (million US$)
No. Commodity 2008 2009 2010 2011 2012
1. Mineral Fuels,oils,distillation products etc. 11,604.6 6,935.2 7,594 9,242 8,872
2. Fertilizers 678.3 1,143.2 1,152.3 1,443 1,284
3. Pearls, precious stones, metals, coins etc. 17.3 918.4 1,037.4 1,726 1,330
4. Edible fruit, nuts, peel of citrus fruit, melons 708.1 1,005.7 955.1 1,020 990
5. Plastics and articles thereof 869.2 754.6 886.5 1,098 1,267
6. Iron and steel 1,222.2 556.7 872.9 1,157 775
7. Edible vegetables and certain roots and tubers 663.5 805.9 834.3 986 809
8. Articles of apparel, accessories, not knit or crochet 254.3 811.4 821.1 994 770
9. Electrical, electronic equipment 791.6 637.6 816.4 1,166 1,153
10. Copper and articles thereof 647.8 585.3 708.3 614 484
Import by 10 Principal commodities, (million US$)
No. Commodity 2008 2009 2010 2011 2012
1. Mineral fuels, oils, distillation products, etc 5,766.3 4,466.0 7,130.7 9,280.3 13,061.1
2. Machinery, nuclear reactors, boilers, etc 6,172.3 5,823.4 5,613.3 5,452.6 5,571
3. Vehicles other than railway, tramway 3,040.8 2,648.6 3,768.2 3,093.8 3,555.1
4. Cereals 3,103.8 2,434.0 3,483.9 5,452.6 5,349.1
5. Electrical, electronic equipment 3,249.8 2,923.7 3,376.1 3,655.3 3,713.4
6. Iron and steel 4,945.7 3,563.6 3,125.8 3,600.3 4,307.4
7. Articles of iron or steel 2.727.2 2.630.9 2,787.1 2,598.4 2,583
8. Plastics and articles thereof 2,322.0 1,890.6 2,296.1 2,915 3,112
9. Wood and articles of wood, wood charcoal 1,161.1 1,080.0 1,202.9 1,341 1,670.5
10. Organic chemicals 1,213.4 992.7 1,120.1 1,356.3 1,388.3
Source: WTO, International Trade Centre.
Export and Import by Main Destination Country
Export by Main Destination Country (% of total)
2008 2009 2010 2011 2012
Italy 10.4 6.6 8.4 8.6 7.9
Spain 5.7 6.6 8.4 4.2 3.4
Saudi Arabia 4.8 5.7 5.9 6.3 6.2
USA 4.8 6.8 5.9 5.8 6.9
India 6.4 6 4.7 7.2 6.9
Libya 3 4.2 4.6 1.8 4.9
Other 64.9 64.1 64.3 66.1 63.8
Source: WTO, International Trade Centre.
Import by Main Destination Country (% of total)
2008 2009 2010 2011 2012
USA 10.8 10.6 9.4 10.4 7.6
China 8.4 8.7 9.2 9.2 9.4
Germany 6.2 8 7.6 6.3 6.7
Italy 5.7 5.9 5.6 5.0 5.0
Saudi Arabia 5.9 4.5 4 4.1 3.9
Republic of Korea 2 2.8 3.6 2.8 2.5
Other 60.8 59.5 60.6 62.2 64.9
Source: WTO, International Trade Centre 2013
Foreign Direct Investment (Overview, selected years)
US$(Mn.) FDI Flows FDI Stocks
2005 2006 2007 2008 2009 2010 2011 2012 2005 2006 2007 2008 2009 2010 2011 2012
Inward 5,376 10,043 11,578 9,495 6,711.6 6,385.6 -482.7 2,797.7 14,690 19,955 50,503 59,998 66,709.3 73,094.6 72,611.9 75,410
Outward 92 148 665 1,920 571.1 1,175.5 625.5 211.1 350 655 1,781 3,701 4,271.8 5,448.4 6,073.9 6,285
Source: UNCTAD, 2013
Agriculture: Food Commodities
US$ Mn 2008 2009 2010 2011 2012
Export 1,379.21 1,765.4 1,889 1,905 2,006
Import 7,258.09 5,647 7,570 7,864 8,164
Trade Volume 8.637.30 7,412.4 9,459 9,769 10,170
Trade Balance -5,878.88 -3,881.6 -5,681 -5,959 -6,158
Egypt's Total Trade 63,795.2 83,329 79,361 90,049 108,968
Share to Egypt's Total Trade 13.5% 8.9% 11.9% 10.8% 9.33%
Source: WTO,FAO 2013.
Energy
Oil
Petroleum(Thousand Barrels per Day) 2006 2007 2008 2009 2010 2011 2012
Total Oil Production 679 710 722 742 746 750 752
Consumption 598 638 680 719 757 765 770
Refinery 726 726 726 726 726 726 726
Proved Reserved(Billion barrels) 3.7 4.1 4.2 4.4 4.5 4.6 4.6
Natural Gas
Natural Gas(Billion Cubic Feet/Day) 2006 2007 2008 2009 2010 2011 2012
Total Production 5.3 5.4 5.7 6.1 5.9 6.0 6.2
Consumption 3.5 3.7 3.9 4.1 4.4 4.5 4.5
Proved Reserved(Trillion cubic meters,TCM) 2.05 2.07 2.17 2.2 2.2 2.2 2.2
Others Energy
Energy Year
2008 2009 2010 2011 2012
Biofuels production (Thousand barrels daily) - - - - -
Electricity Generation (Terawatt-hours) 127.9 133.3 143.5 145.4 147.1
Renewable Energy (Installed Capacity) Geothermal (mega-watts) - - - - -
Solar (maga-watts) - - - - -
Wind (mega-watts) 384 552 552 555 555
Source: BP statistics, 2013