Mother Earth Travel > Country Index > Egypt > Map Economy History |
| Economy - overview: A series of IMF arrangements - along with
massive external debt relief resulting from Egypt's participation in the
Gulf war coalition - helped Egypt improve its macroeconomic performance
during the 1990s. Sound fiscal and monetary policies through the mid-1990s
helped to tame inflation, slash budget deficits, and build up foreign
reserves, while structural reforms such as privatization and new business
legislation prompted increased foreign investment. By mid-1998, however,
the pace of structural reform slackened, and lower combined hard currency
earnings resulted in pressure on the Egyptian pound and sporadic US dollar
shortages. External payments were not in crisis, but Cairo's attempts to
curb demand for foreign exchange convinced some investors and currency
traders that government financial operations lacked transparency and
coordination. Monetary pressures have since eased, however, with the
1999-2000 higher oil prices, a rebound in tourism, and a series of
mini-devaluations of the pound. The development of a gas export market is
a major plus factor in future growth. GDP: purchasing power parity - $247 billion (2000 est.) GDP - real growth rate: 5% (2000 est.) GDP - per capita: purchasing power parity - $3,600 (2000 est.) GDP - composition by sector: agriculture: 17% industry: 32% services: 51% (1999) Population below poverty line: 22.9% (FY95/96 est.) Household income or consumption by percentage share: lowest 10%: 4.4% highest 10%: 25% (1995) Inflation rate (consumer prices): 3.7% (1999), 3% (2000) Labor force: 19.9 million (2000 est.) Labor force - by occupation: agriculture 29%, services 49%, industry 22% (FY99) Unemployment rate: 11.8% (1999 est.), 11.5% (2000 est.) Budget: revenues: $22.6 billion expenditures: $26.2 billion (FY99) Industries: textiles, food processing, tourism, chemicals, hydrocarbons, construction, cement, metals Industrial production growth rate: 2.1% (2000 est.) Electricity - production: 64.685 billion kWh (1999) Electricity - production by source: fossil fuel: 76.59% hydro: 23.41% nuclear: 0% other: 0% (1999) Electricity - consumption: 60.157 billion kWh (1999) Electricity - exports: 0 kWh (1999) Electricity - imports: 0 kWh (1999) Agriculture - products: cotton, rice, corn, wheat, beans, fruits, vegetables; cattle, water buffalo, sheep, goats Exports: $4.6 billion (f.o.b., 1999 est.), $7.3 billion (f.o.b., 2000 est.) Exports - commodities: crude oil and petroleum products, cotton, textiles, metal products, chemicals Exports - partners: EU 35%, Middle East 17%, Afro-Asian countries 14%, US 12% (1999) Imports: $15.8 billion (f.o.b., 1999 est.), $17 billion (f.o.b., 2000 est.) Imports - commodities: machinery and equipment, foodstuffs, chemicals, wood products, fuels Imports - partners: EU 36%, US 14%, Afro-Asian countries 14%, Middle East 6% (1999) Debt - external: $31 billion (2000 est.) Economic aid - recipient: ODA, $2.25 billion (1999) Currency: Egyptian pound (EGP) SOURCE: The World Factbook |
Mother Earth Travel > Country Index > Egypt > Map Economy History