| Economy | Egypt |
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Economy - overview:
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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):
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$515.4 billion (2011 est.)
$509.3 billion (2010 est.)
$484.3 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$6,500 (2011 est.)
$6,500 (2010 est.)
$6,300 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$231.9 billion (2011 est.) |
GDP - real growth rate:
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1.2% (2011 est.)
5.1% (2010 est.)
4.7% (2009 est.) |
GDP - composition by sector:
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agriculture: 14.4%
industry: 39.5%
services: 45.8% (2011 est.) |
Investment (gross fixed):
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15.8% of GDP (2011 est.) |
Population below poverty line:
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20% (2005 est.) |
Household income or consumption by percentage share:
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lowest 10%: 3.9%
highest 10%: 27.6% (2005) |
Distribution of family income - Gini index:
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34.4 (2001) |
Inflation rate (consumer prices):
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13.3% (2011 est.)
11.1% (2010 est.) |
Central bank discount rate:
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8.68% (31 December 2010 est.)
8.5% (31 December 2009 est.) |
Commercial bank prime lending rate:
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12% (31 December 2011 est.)
11.008% (31 December 2010 est.) |
Stock of money:
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$31.72 billion (31 December 2008)
$27.6 billion (31 December 2007) |
Stock of money - per capita:
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387 USD per capita |
Stock of quasi money:
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$112.2 billion (31 December 2008)
$102.6 billion (31 December 2007) |
Stock of quasi money - per capita:
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1,367 USD per capita |
Stock of domestic credit:
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$130.7 billion (31 December 2011 est.)
$141.6 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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1,593 USD per capita |
Stock of narrow money:
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$46.92 billion (31 December 2011 est.)
$38.5 billion (31 December 2010 est.) |
Stock of broad money:
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$196.3 billion (31 December 2011 est.)
$168.3 billion (31 December 2010 est.) |
Labor force:
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27.74 million (2011 est.) |
Labor force participation rate:
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33.80 % of population |
Labor force - by occupation:
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agriculture: 32%
industry: 17%
services: 51% (2001 est.) |
Unemployment rate:
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12.2% (2011 est.)
9% (2010 est.) |
Unemployment, youth ages 15-24:
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total: 24.8%
male: 17.2%
female: 47.9% (2007) |
Budget:
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revenues: $44.73 billion
expenditures: $69.28 billion (2011 est.) |
Budget revenues per capita:
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545 USD per capita |
Taxes and other revenues:
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19.3% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-10.6% of GDP (2011 est.) |
Public debt:
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85.7% 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. |
Industries:
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textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures |
Industrial production growth rate:
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5.7% (2011 est.) |
Electricity - production:
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123.9 billion kWh (2008 est.) |
Electricity - production per capita:
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1,510 kWh per capita |
Electricity - consumption:
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109.1 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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1,330 kWh per capita |
Electricity - exports:
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1.022 billion kWh (2008 est.) |
Electricity - imports:
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896 million kWh (2008 est.) |
Oil - production:
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662,600 bbl/day (2010 est.) |
Oil - production per capita:
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8,073 bbl/day per capita |
Oil - consumption:
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740,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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3.29 bbl/year per capita |
Oil - exports:
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163,000 bbl/day (2009 est.) |
Oil - imports:
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177,200 bbl/day (2009 est.) |
Oil - proved reserves:
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4.4 billion bbl (1 January 2011 est.) |
Natural gas - production:
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62.69 billion cu m (2009 est.) |
Natural gas - production per capita:
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764 cu m per capita |
Natural gas - consumption:
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44.37 billion cu m (2009 est.) |
Natural gas - consumption - per capita:
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541 cu m per capita |
Natural gas - exports:
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18.32 billion cu m (2009 est.) |
Natural gas - imports:
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0 cu m (2009 est.) |
Natural gas - proved reserves:
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2.186 trillion cu m (1 January 2011 est.) |
Agriculture - products:
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cotton, rice, corn, wheat, beans, fruits, vegetables; cattle, water buffalo, sheep, goats |
Current account balance:
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-$8.609 billion (2011 est.)
-$4.435 billion (2010 est.) |
Current account balance - per capita:
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-104 USD per capita |
Exports:
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$27.96 billion (2011 est.)
$25.02 billion (2010 est.) |
Exports per capita:
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341 USD per capita |
Exports - commodities:
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crude oil and petroleum products, cotton, textiles, metal products, chemicals, processed food |
Exports - partners:
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US 7.6%, Italy 7.3%, India 6.1%, Spain 5.4%, Saudi Arabia 5.4%, France 4.7%, Libya 4% (2010) |
Imports:
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$57.41 billion (2011 est.)
$51.54 billion (2010 est.) |
Imports per capita:
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700 USD per capita |
Imports - commodities:
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machinery and equipment, foodstuffs, chemicals, wood products, fuels |
Imports - partners:
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US 11.8%, China 10.4%, Germany 6.5%, Italy 6.4%, Saudi Arabia 4.1% (2010) |
Reserves of foreign exchange and gold:
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$28.95 billion (31 December 2011 est.)
$35.79 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
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353 USD per capita |
Debt - external:
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$37.28 billion (31 December 2011 est.)
$35.37 billion (31 December 2010 est.) |
Debt - external - per capita:
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455 USD per capita |
Stock of direct foreign investment - at home:
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$75.7 billion (31 December 2011 est.)
$73.1 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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923 USD per capita |
Stock of direct foreign investment - abroad:
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$6.148 billion (31 December 2011 est.)
$5.448 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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75 USD per capita |
Market value of publicly traded shares:
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$82.49 billion (31 December 2010)
$89.95 billion (31 December 2009)
$85.89 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
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1,005 USD per capita |
Currency (code):
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Egyptian pound (EGP) |
Exchange rates:
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Egyptian pounds (EGP) per US dollar -
5.94 (2011 est.)
5.6258 (2010 est.)
5.545 (2009)
5.4 (2008)
5.67 (2007) |
Fiscal year:
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1 July - 30 June |
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