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EconomyEconomy - 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 drastically increased 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 are among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow at least through 2012. The government is utilizing foreign exchange reserves to support the Egyptian pound and Egypt may seek a loan from the International Monetary Fund. Gdp (purchasing power parity) World Ranking: 27
$525.6 billion (2011 est.)
$516.5 billion (2010 est.) $491.2 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$235.7 billion (2011 est.)
Gdp - real growth rate World Ranking: 155
1.8% (2011 est.)
5.1% (2010 est.) 4.7% (2009 est.) Gdp - per capita (ppp) World Ranking: 136
$6,600 (2011 est.)
$6,600 (2010 est.) $6,400 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 14.5%
Industry 37.6% Services 47.6% (2011 est.) Labor force World Ranking: 22
27.74 million (2011 est.)
Labor force - by occupation
Agriculture 32%
Industry 17% Services 51% (2001 est.) Unemployment rate World Ranking: 128
12.2% (2011 est.)
9% (2010 est.) Population below poverty line
20% (2005 est.)
Household income or consumption by percentage share
Lowest 10% 3.9%
Highest 10% 27.6% (2005) Distribution of family income - gini index World Ranking: 89
34.4 (2001)
Investment (gross fixed) World Ranking: 135
14.8% of GDP (2011 est.)
Budget
Revenues $44.69 billion
Expenditures $67.7 billion (2011 est.) Taxes and other revenues World Ranking: 172
19% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 195
-9.8% of GDP (2011 est.)
Public debt World Ranking: 21
83.4% of GDP (2011 est.)
81.4% of GDP (2010 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 Inflation rate (consumer prices) World Ranking: 192
10.2% (2011 est.)
11.1% (2010 est.) Central bank discount rate World Ranking: 36
8.68% (31 December 2010 est.)
8.5% (31 December 2009 est.) Commercial bank prime lending rate World Ranking: 77
11.03% (31 December 2011 est.)
11.008% (31 December 2010 est.) Stock of narrow money World Ranking: 47
$49.27 billion (31 December 2011 est.) $38.5 billion (31 December 2010 est.) Stock of broad money World Ranking: 44
$172.7 billion (31 December 2011 est.) $168.3 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 46
$137.5 billion (31 December 2011 est.) $141.6 billion (31 December 2010 est.) Market value of publicly traded shares World Ranking: 45
$48.68 billion (31 December 2011) $82.49 billion (31 December 2010) $89.95 billion (31 December 2009) 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 World Ranking: 143
0.5% (2011 est.)
Electricity - production World Ranking: 27
123.9 billion kWh (2008 est.)
Electricity - consumption World Ranking: 29
109.1 billion kWh (2008 est.)
Electricity - exports
1.022 billion kWh (2008 est.)
Electricity - imports
896 million kWh (2008 est.)
Oil - production World Ranking: 29
662,600 bbl/day (2010 est.)
Oil - consumption World Ranking: 25
740,000 bbl/day (2010 est.)
Oil - exports World Ranking: 57
163,000 bbl/day (2009 est.)
Oil - imports World Ranking: 52
177,200 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 27
4.4 billion bbl (1 January 2011 est.) Natural gas - production World Ranking: 14
62.69 billion cu m (2009 est.)
Natural gas - consumption World Ranking: 18
44.37 billion cu m (2009 est.)
Natural gas - exports World Ranking: 13
18.32 billion cu m (2009 est.)
Natural gas - imports World Ranking: 184
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 17
2.186 trillion cu m (1 January 2011 est.) Current account balance World Ranking: 168
-$5.422 billion (2011 est.)
-$5.596 billion (2010 est.) Exports World Ranking: 68
$27.91 billion (2011 est.)
$25.02 billion (2010 est.) Exports - commodities
Crude oil and petroleum products, cotton, textiles, metal products, chemicals, processed food Exports - partners
Italy 8.8%, Germany 5.5%, US 5.5%, India 5.2%, Saudi Arabia 5.1%, Spain 4.7%, France 4.5% (2011) Imports World Ranking: 52
$53.97 billion (2011 est.)
$52.7 billion (2010 est.) Imports - commodities
Machinery and equipment, foodstuffs, chemicals, wood products, fuels Imports - partners
China 11.5%, US 9.8%, Italy 5.6%, Germany 4.9%, Turkey 4.4%, Brazil 4.1% (2011) Reserves of foreign exchange and gold World Ranking: 61
$17.66 billion (31 December 2011 est.) $35.79 billion (31 December 2010 est.) Debt - external World Ranking: 67
$33.74 billion (31 December 2011 est.) $34.84 billion (31 December 2010 est.) Stock of direct foreign investment - at home World Ranking: 46
$72.61 billion (31 December 2011 est.) $73.1 billion (31 December 2010 est.) Stock of direct foreign investment - abroad World Ranking: 60
$6.073 billion (31 December 2011 est.) $5.447 billion (31 December 2010 est.) Exchange rates
Egyptian pounds (EGP) per US dollar - 5.9328 (2011 est.)5.6219 (2010 est.) 5.545 (2009) 5.4 (2008) 5.67 (2007) Fiscal year
1 July - 30 June
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Egypt (Cairo):
GPS points from Egypt (Cairo)
Bir Baris 9 Muhafazat Al Wadi Al Jadid
Minyet El-sirig Muhafazat Al Qahirah
El-qattar Janub Sina
Wadi Umm Rokba Muhafazat Al Bahr Al Ahmar
El-qantara East Station Muhafazat Shamal Sina'
Hod El Rayayna Muhafazat Qina
Jabal Umm Kuthayrah Janub Sina
Marsa Al `asy Muhafazat Matruh |