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| Economy overview | Lack of substantial progress on economic reform since the mid 1990s has limited foreign direct investment in Egypt and kept annual GDP growth in the range of 2-3 percent in 2001-03. Egyptian officials in late 2003 and early 2004 proposed new privatization and customs reform measures, but the government is likely to pursue these initiatives cautiously and gradually to avoid a public backlash over potential inflation or layoffs associated with the reforms. Monetary pressures on an overvalued Egyptian pound led the government to float the currency in January 2003, leading to a sharp drop in its value and consequent inflationary pressure. The existence of a black market for hard currency is evidence that the government continues to influence the official exchange rate offered in banks. In September 2003, Egyptian officials increased subsidies on basic foodstuffs, helping to calm a frustrated public but widening an already deep budget deficit. Egypt's balance-of-payments position was not hurt by the war in Iraq in 2003, as tourism and Suez Canal revenues fared well. The development of an export market for natural gas is a bright spot for future growth prospects, but improvement in the capital-intensive hydrocarbons sector does little to reduce Egypt's persistent unemployment. |
| GDP | purchasing power parity - $295.2 billion (2004 est.) |
| GDP - real growth rate | 3.1% (2004 est.) |
| GDP - per capita | purchasing power parity - $4,000 (2004 est.) |
| GDP - composition by sector |
agriculture: 17% industry: 33% services: 50% (2004 est.) |
| Investment gross fixed | 16.7% of GDP (2004 est.) |
| Population below poverty line | 16.7% (2000 est.) |
| Household income or consumption by percentage share |
lowest 10%: 3.7% highest 10%: 29.5% (1999) |
| Distribution of family income - Gini index | 34.4 (1999) |
| Inflation rate consumer prices | 4.3% (2004 est.) |
| Labor force | 20.19 million (2004 est.) |
| Labor force by occupation | agriculture 32%, industry 17%, services 51% (2001 est.) |
| Unemployment rate | 9.9% (2004 est.) |
| Budget |
revenues: $14.69 billion expenditures: $19.03 billion, including capital expenditures of $2.7 billion (2004 est.) |
| Public debt | 101.8% of GDP (2004 est.) |
| Agriculture products | cotton, rice, corn, wheat, beans, fruits, vegetables; cattle, water buffalo, sheep, goats |
| Industries | textiles, food processing, tourism, chemicals, hydrocarbons, construction, cement, metals |
| Industrial production growth rate | 1.5% (2004 est.) |
| Electricity production | 75.23 billion kWh (2001) |
| Electricity production by source |
fossil fuel: 81% hydro: 19% other: 0% (2001) nuclear: 0% |
| Electricity consumption | 69.96 billion kWh (2001) |
| Electricity exports | 0 kWh (2001) |
| Electricity imports | 0 kWh (2001) |
| Oil production | 816,900 bbl/day (2004 est.) |
| Oil consumption | 562,000 bbl/day (2001 est.) |
| Oil exports | NA (2001) |
| Oil imports | NA (2001) |
| Oil proved reserves | 3.308 billion bbl (2004) |
| Natural gas production | 21.2 billion cu m (2001 est.) |
| Natural gas consumption | 21.2 billion cu m (2001 est.) |
| Natural gas exports | 0 cu m (2001 est.) |
| Natural gas imports | 0 cu m (2001 est.) |
| Natural gas proved reserves | 1.264 trillion cu m (2004) |
| Current account balance | $3.874 billion (2004 est.) |
| Exports | $8.759 billion f.o.b. (2004 est.) |
| Exports commodities | crude oil and petroleum products, cotton, textiles, metal products, chemicals |
| Exports partners | US 13.3%, Italy 12.3%, UK 7.9%, France 4.7%, Germany 4.7%, India 4.2% (2003) |
| Imports | $14.75 billion f.o.b. (2003 est.) |
| Imports commodities | machinery and equipment, foodstuffs, chemicals, wood products, fuels |
| Imports partners | US 13.6%, Germany 7.4%, Italy 7%, France 6.6%, China 4.8%, Saudi Arabia 4.3% (2003) |
| Reserves of foreign exchange gold | $14.22 billion (2004 est.) |
| Debt external | $30.34 billion (2004 est.) |
| Economic aid recipient | ODA, $1.2 billion (2001) |
| Currency | Egyptian pound (EGP) |
| Currency code | EGP |
| Exchange rates | Egyptian pounds per US dollar - 5.8509 (2003), 4.4997 (2002), 3.973 (2001), 3.4721 (2000), 3.3953 (1999) |
| Fiscal year | 1 July - 30 June |
Introduction and Background to Egypt | Geography Of Egypt | People Of Egypt | Government Of Egypt | Communications Of Egypt | Transportation Of Egypt | Military Of Egypt | Transnational Issues Of Egypt
Egyptian Flag Map Of Egypt Beja language
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