main information about Egypt
| The capital | Cairo |
|---|---|
| Continent | Africa |
| Area | 1,001,450 km2 |
| Population (2022) | 106 million |
| The main language (official) | Arabic |
| Currency | Egyptian Pound |
| Economic indicators 2022 | Egypt USD |
|---|---|
| GDP ( billion)
Growth in GDP (%) |
476.7
6.6 |
| GDP per capita | 4,295 |
| Unemployment rate (%) | 7 |
| Inflation rate (%) | 13.9 |
| Labor force (million) | 31.2 |
| Export ( billion) | 48.1 |
| Import (billion) | 79.7 |
| Current account (billion) | -31.6 |
| Government debt as % of GDP (%) | 87.2 |
| Budget deficit as % of GDP (%) | -6.1 |
| External public debt (billion) | 162.9 |
Source: world Bank
The economic reform policies pursued by Egypt succeeded in achieving a remarkable improvement in growth rates, as the rate of GDP growth during the fiscal year 2021/2022 reached about 6.6%, Despite the economic challenges that the Egyptian economy faced, the Egyptian economy succeeded in dealing with crises and achieving a positive growth rate, while other countries recorded negative growth rates and achieving a positive growth rate, while other countries recorded negative growth rates. The economic structure of Egypt is characterized by diversity and a flexible response to market forces and its interactions, which constitutes a strong basis for the positive contribution of all economic sectors to the process of economic growth. The sustainable development plan in Egypt gives priority to the leading, high-productivity, fast-growing sectors, and to the sectors most closely related to activating transactions in the internal markets.
Egypt is classified as the most populous country in Africa and the Middle East. Egypt has witnessed a remarkable rise in retail market sales, and the influx of products from major international companies. Egypt attracts many international brands because these companies find Egypt as a large market for their products. Therefore, the high population and the presence of a large proportion of them in the age groups with a high tendency to consume is a motivating element for any investor to be present in the Egyptian market.
Egypt’s ranking improved in many reports issued by major international organizations and institutions. These institutions also praised the performance of the Egyptian economy and the achievement of positive growth rates despite the decline in growth and investment rates globally.
| year | Foreign Direct Investment
(million USD) |
|---|---|
| 2020 | 5,852 |
| 2021 | 5,122 |
| 2022 | 11,400 |
Source: United Nations Conference on Trade and Development (UNCTAD)
The Egyptian economy is characterized by its dynamic growth and strategic geographic location, with low labor costs, and skilled workforce, in addition to unique tourism potential, and large energy reserves and domestic market.
The success of the reforms undertaken by the authorities (including several privatizations) contributed in driving development. Egypt also recently adopted an investment law that includes performance requirements for some investment incentives, including labor-intensive projects and geographical location.
The government also created special economic zones with business-friendly regulations: more liberal, more efficient administration, tax incentives, easier registration and customs procedures, and better infrastructure.
The country ranked 114 out of 190 countries in the Doing Business 2020 report issued by the World Bank, gaining six places compared to the previous year.
Efforts to promote foreign direct investment diversification included an agreement to revitalize the $16 billion Saudi-Egypt Investment Fund, and the Egyptian Sovereign Fund seeks to attract foreign direct investment to a range of economic and social development projects through public-private partnerships.
The United Kingdom is approximately the largest investor in Egypt, followed by Belgium, the US and the UAE. Foreign direct investment is concentrated in the oil and gas industry (about three-quarters of the total investment), followed by real estate, manufacturing, financial services and construction.
International trade between Egypt and Jordan(2020-2022)
| year | Export Million JD | Import Million JD | Trade balance million USD | Total trade million USD |
|---|---|---|---|---|
| 2020 | 568 | 115 | 683 | 453 |
| 2021 | 631.8 | 138.6 | 770.4 | 493.2 |
| 2022 | 680.9 | 229.9 | 910.8 | 451 |
Source: international trade center (ITC)
| The most critical Egyptian export to Jordan (2022) | Export value Million USD |
|---|---|
| Mineral fuels, mineral oils and products of their distillation | 124.7 |
| Electrical machinery and equipment | 53.9 |
| Ceramic products | 33.1 |
| Edible fruit and nuts | 41.5 |
Source :international trade center (ITC)
| The most critical Egyptian import from Jordan (2022) | Import value Million USD |
|---|---|
| Fertilizers | 135.4 |
| Pharmaceutical products | 27.1 |
| Aluminium | 9.1 |
| Plastics | 9.1 |
Source :international trade center (ITC)
Egyptian - Jordanian Economic cooperation is an exemplary example. Egypt represents a gateway to Jordanian exports to European and African market. While Jordan represents Egypt’s gateway to the Iraq and the Arab Gulf markets, and it is worth noting that the bilateral relations between the two countries have improved significantly over the past years.
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