Egypt

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Egypt - In Short.

Overview of Egypt

The regularity and richness of the annual Nile River flood, coupled with semi-isolation provided by deserts to the east and west, allowed for the development of one of the world’s great civilizations. A unified kingdom arose circa 3200 B.C., and a series of dynasties ruled in Egypt for the next three millennia. The last native dynasty fell to the Persians in 341 B.C., who in turn were replaced by the Greeks, Romans, and Byzantines. It was the Arabs who introduced Islam and the Arabic language in the 7th century and who ruled for the next six centuries. A local military caste, the Mamluks took control about 1250 and continued to govern after the conquest of Egypt by the Ottoman Turks in 1517. Completion of the Suez Canal in 1869 elevated Egypt as an important world transportation hub. Ostensibly to protect its investments, Britain seized control of Egypt’s government in 1882, but nominal allegiance to the Ottoman Empire continued until 1914. Partially independent from the UK in 1922, Egypt acquired full sovereignty from Britain in 1952. The completion of the Aswan High Dam in 1971 and the resultant Lake Nasser have reaffirmed the time-honored place of the Nile River in the agriculture and ecology of Egypt. A rapidly growing population (the largest in the Arab world), limited arable land, and dependence on the Nile all continue to overtax resources and stress society. The government has struggled to meet the demands of Egypt’s fast-growing population as it implements far-reaching economic reforms, including the reduction of select subsidies, large-scale infrastructure projects, energy cooperation, and foreign direct investment appeals. Inspired by the 2010 Tunisian revolution, Egyptian opposition groups led demonstrations and labor strikes countrywide, culminating in President Hosni MUBARAK’s ouster in 2011. Egypt’s military assumed national leadership until a new legislature was in place in early 2012; later that same year, Muhammad MURSI won the presidential election. Following protests throughout the spring of 2013 against MURSI’s government and the Muslim Brotherhood, the Egyptian Armed Forces intervened and removed MURSI from power in July 2013 and replaced him with interim president Adly MANSOUR. Simultaneously, the government began enacting laws to limit freedoms of assembly and expression. In January 2014, voters approved a new constitution by referendum and in May 2014 elected former defense minister Abdelfattah ELSISI president. Egypt elected a new legislature in December 2015, its first Hose of Representatives since 2012. ELSISI was reelected to a second four-year term in March 2018. In April 2019, Egypt approved via national referendum a set of constitutional amendments extending ELSISI’s term in office through 2024 and possibly through 2030 if re-elected for a third term. The amendments would also allow future presidents up to two consecutive six-year terms in office, re-establish an upper legislative house, allow for one or more vice presidents, establish a 25% quota for female legislators, reaffirm the military’s role as guardian of Egypt, and expand presidential authority to appoint the heads of judicial councils.    
Value
Country Full Name
Egypt
Country Code
EGY
Region
Middle East & North Africa
Income Group
Lower middle income
Currency Unit
GDP
3.65E+11
Population
102334403
Land Area
995450
Net National Income Per Capita
3172.54793
GDP per Capita (PPP)
12607.00395

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Egypt - Economic

Economy of Egypt

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. Agriculture, hydrocarbons, manufacturing, tourism, and other service sectors drove the country’s relatively diverse economic activity.Despite Egypt’s mixed record for attracting foreign investment over the past two decades, poor living conditions and limited job opportunities have contributed to public discontent. These socioeconomic pressures were a major factor leading to the January 2011 revolution that ousted MUBARAK. The uncertain political, security, and policy environment since 2011 has restricted economic growth and failed to alleviate persistent unemployment, especially among the young.In late 2016, persistent dollar shortages and waning aid from its Gulf allies led Cairo to turn to the IMF for a 3-year, $12 billion loan program. To secure the deal, Cairo floated its currency, introduced new taxes, and cut energy subsidies – all of which pushed inflation above 30% for most of 2017, a high that had not been seen in a generation. Since the currency float, foreign investment in Egypt’s high interest treasury bills has risen exponentially, boosting both dollar availability and central bank reserves. Cairo will be challenged to obtain foreign and local investment in manufacturing and other sectors without a sustained effort to implement a range of business reforms.

Unemployment Rate

Inflation Rate

Egypt - GDP Composition

GDP Composiiton & Value Added of Egypt

Last Updated: Jan, 2021, Updated For 2020.

Egypt - GDP, Value Added

Demographics of Egypt

approximately 95% of the population lives within 20 km of the Nile River and its delta; vast areas of the country remain sparsely populated or uninhabited as shown in this population distribution map
Geographic Location

Northern Africa, bordering the Mediterranean Sea, between Libya and the Gaza Strip, and the Red Sea north of Sudan, and includes the Asian Sinai Peninsula

Races

Egyptian 99.7%, other 0.3% (2006 est.)note: data represent respondents by nationality

Languages

Arabic (official), English, and French widely understood by educated classesmajor-language

Religion

Muslim (predominantly Sunni) 90%, Christian (majority Coptic Orthodox, other Christians include Armenian Apostolic, Catholic, Maronite, Orthodox, and Anglican) 10%

Dependency & Expectancy of Egypt

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Egypt - Social Media Briefing

Egypt - Social Media & Social Commerce

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Politics & Policies of Egypt

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ABEDA, AfDB, AFESD, AMF, AU, BSEC (observer), CAEU, CD, CICA, COMESA, D-8, EBRD, FAO, G-15, G-24, G-77, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, LAS, MIGA, MINURSO, MINUSMA, MONUSCO, NAM, OAPEC, OAS (observer), OIC, OIF, OSCE (partner), PCA, UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNMISS, UNOCI, UNRWA, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

Import of Egypt

Export of Egypt

Import Destination

Export Destination