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Egypt Economy 2014
http://www.theodora.com/wfbcurrent/egypt/egypt_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on February 3, 2014

Economy - overview:
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Egypt's economy was highly centralized during the rule of former President Gamal Abdel NASSER but opened up considerably under former Presidents Anwar EL-SADAT and Mohamed Hosni MUBARAK. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth. Despite the relatively high levels of economic growth in recent years, living conditions for the average Egyptian remained poor and contributed to public discontent. After unrest erupted in January 2011, the Egyptian Government backtracked on economic reforms, drastically increasing social spending to address public dissatisfaction, but political uncertainty at the same time caused economic growth to slow significantly, reducing the government's revenues. Tourism, manufacturing, and construction were among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow during the next several years. The government drew down foreign exchange reserves by more than 50% in 2011 and 2012 to support the Egyptian pound and the dearth of foreign financial assistance - as a result of unsuccessful negotiations with the International Monetary Fund over a multi-billion dollar loan agreement which have dragged on more than 20 months - could precipitate fiscal and balance of payments crises in 2013.

GDP (purchasing power parity):
$534.1 billion (2012 est.)
country comparison to the world: 28

$522.6 billion (2011 est.)
$513.4 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$253.3 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.2% (2012 est.)
country comparison to the world: 131

1.8% (2011 est.)
5.1% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$6,500 (2012 est.)
country comparison to the world: 142

$6,500 (2011 est.)
$6,500 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
13.1% of GDP (2012 est.)
country comparison to the world: 114

13.8% of GDP (2011 est.)
16.9% of GDP (2010 est.)

GDP - composition, by end use:
household consumption: 79.3%
government consumption: 11.6%
investment in fixed capital: 16%
investment in inventories: 0.8%
exports of goods and services: 18.6%
imports of goods and services: -26.2%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 14.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 36.9%
services: 48.6% (2012 est.)

Agriculture - products:
cotton, rice, corn, wheat, beans, fruits, vegetables; cattle, water buffalo, sheep, goats

Industries:
textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures

Industrial production growth rate:
4.7% (2012 est.)
country comparison to the world: 59
[see also: Industrial production growth rate country ranks ]

Labor force:
27 million (2012 est.)
country comparison to the world: 25
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 32%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 17%
services: 51% (2001 est.)

Unemployment rate:
12.7% (2012 est.)
country comparison to the world: 130

12% (2011 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
20% (2005 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 27.6% (2005)

Distribution of family income - Gini index:
34.4 (2001)
country comparison to the world: 90
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $50.1 billion
[see also: Budget revenues country ranks ]
expenditures: $77.71 billion (2012 est.)

Taxes and other revenues:
19.8% of GDP (2012 est.)
country comparison to the world: 167
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-10.9% of GDP (2012 est.)
country comparison to the world: 202
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
88% of GDP (2012 est.)
country comparison to the world: 20

84.3% of GDP (2011 est.)
note: data cover central government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are sold at public auctions
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
7.1% (2012 est.)
country comparison to the world: 178

10.1% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
8.68% (31 December 2010 est.)
country comparison to the world: 31

8.5% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
12% (31 December 2012 est.)
country comparison to the world: 75

11.03% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$45.33 billion (31 December 2012 est.)
country comparison to the world: 47

$42.25 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$192.5 billion (31 December 2012 est.)
country comparison to the world: 42

$171.7 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$192.5 billion (31 December 2012 est.)
country comparison to the world: 40

$169.1 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$48.68 billion (31 December 2011)
country comparison to the world: 44

$82.49 billion (31 December 2010)
$89.95 billion (31 December 2009)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-9.136 billion (2012 est.)
country comparison to the world: 173

$-7.581 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$24.93 billion (2012 est.)
country comparison to the world: 69

$27.91 billion (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
crude oil and petroleum products, cotton, textiles, metal products, chemicals, processed food

Exports - partners:
Italy 7.9%, India 6.9%, US 6.8%, Saudi Arabia 6.2%, Turkey 5.3%, Libya 4.9% (2012)

Imports:
$60.26 billion (2012 est.)
country comparison to the world: 49

$56.13 billion (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, foodstuffs, chemicals, wood products, fuels

Imports - partners:
China 9.5%, US 7.6%, Germany 6.7%, Russia 5.3%, Ukraine 5.3%, Turkey 5.1%, Italy 5% (2012)

Reserves of foreign exchange and gold:
$14.93 billion (31 December 2012 est.)
country comparison to the world: 64

$17.66 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$38.69 billion (31 December 2012 est.)
country comparison to the world: 66

$35 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$75.41 billion (31 December 2012 est.)
country comparison to the world: 47

$72.61 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$6.285 billion (31 December 2012 est.)
country comparison to the world: 63

$6.074 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Egyptian pounds (EGP) per US dollar -

6.0608 (2012 est.)
5.9358 (2011 est.)
5.6219 (2010 est.)
5.545 (2009)
5.4 (2008)


NOTE: The information regarding Egypt on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Egypt Economy 2014 information contained here. All suggestions for corrections of any errors about Egypt Economy 2014 should be addressed to the CIA.



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