| Introduction - Egypt: |
| Location - Egypt: |
| People - Egypt: |
| Government - Egypt: |
| Economy - Egypt: |
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. In the last 30 years, the government has reformed the highly centralized economy it inherited from President NASSER. In 2005, Prime Minister Ahmed NAZIF reduced personal and corporate tax rates, reduced energy subsidies, and privatized several enterprises. The stock market boomed, and GDP grew about 5% per year in 2005-06. Despite these achievements, the government has failed to raise living standards for the average Egyptian, and has had to continue providing subsidies for basic necessities. The subsidies have contributed to a growing budget deficit - more than 10% of GDP each year - and represent a significant drain on the economy. Foreign direct investment remains low. To achieve higher GDP growth the NAZIF government will need to continue its aggressive pursuit of reform, especially in the energy sector. Egypts export sectors - particularly natural gas - have bright prospects. |
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Gdp purchasing power parity | $334.4 billion (2006 est.) |
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Gdp official exchange rate | $85.37 billion (2006 est.) |
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Gdp real growth rate | 6.8% (2006 est.) |
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Gdp per capita ppp | $4,200 (2006 est.) |
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Gdp composition by sector | agriculture: 14.7%
industry: 35.5%
services: 49.8% (2006 est.) |
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Labor force | 21.8 million (2006 est.) |
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Labor force by occupation | agriculture: 32%
industry: 17%
services: 51% (2001 est.) |
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Unemployment rate | 10.3% (2006 est.) |
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Population below poverty line | 20% (2005 est.) |
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Household income or consumption by percentage share | lowest 10%: 4.4%
highest 10%: 25% (1995) |
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Distribution of family income gini index | 34.4 (2001) |
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Inflation rate consumer prices | 6.5% (2006 est.) |
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Investment gross fixed | 19.2% of GDP (2006 est.) |
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Budget | revenues: $21.32 billion
expenditures: $31.83 billion; including capital expenditures of $2.7 billion (2006 est.) |
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Public debt | 102.9% of GDP (2006 est.) |
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Agriculture products | cotton, rice, corn, wheat, beans, fruits, vegetables; cattle, water buffalo, sheep, goats |
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Industries | textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures |
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Industrial production growth rate | 5.1% (2006 est.) |
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Electricity production | 91.72 billion kWh (2004) |
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Electricity consumption | 84.49 billion kWh (2004) |
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Electricity exports | 1 billion kWh (2004) |
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Electricity imports | 200 million kWh (2004) |
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Oil production | 700,000 bbl/day (2005 est.) |
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Oil consumption | 590,000 bbl/day (2004 est.) |
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Oil exports | 152,600 bbl/day (2004 est.) |
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Oil imports | NA bbl/day |
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Oil proved reserves | 3.7 billion bbl (1 January 2005 est.) |
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Natural gas production | 32.56 billion cu m (2004 est.) |
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Natural gas consumption | 31.46 billion cu m (2004 est.) |
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Natural gas exports | 1.1 billion cu m (2004 est.) |
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Natural gas imports | 0 cu m (2004 est.) |
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Natural gas proved reserves | 1.657 trillion cu m (1 January 2005 est.) |
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Current account balance | $2.697 billion (2006 est.) |
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Exports | $24.22 billion f.o.b. (2006 est.) |
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Exports commodities | crude oil and petroleum products, cotton, textiles, metal products, chemicals |
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Exports partners | Italy 12.2%, US 11.4%, Spain 8.6%, UK 5.6%, France 5.4%, Syria 5.2%, Saudi Arabia 4.4%, Germany 4.2% (2006) |
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Imports | $35.86 billion f.o.b. (2006 est.) |
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Imports commodities | machinery and equipment, foodstuffs, chemicals, wood products, fuels |
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Imports partners | US 11.4%, China 8.2%, Germany 6.4%, Italy 5.4%, Saudi Arabia 5%, France 4.6% (2006) |
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Reserves of foreign exchange and gold | $26.3 billion (2006 est.) |
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Debt external | $29.59 billion (30 June 2006 est.) |
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Economic aid recipient | ODA, $1.12 billion (2002) |
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Currency code | Egyptian pound (EGP) |
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Exchange rates | Egyptian pounds per US dollar - 5.725 (2006), 5.78 (2005), 6.1962 (2004), 5.8509 (2003), 4.4997 (2002) |
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| Communications - Egypt: |
| Transportation - Egypt: |
| Military - Egypt: |
This page was last updated on 16 September, 2007
