Egypt Economy​

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 - $294.3 billion (2003 est.)

GDP - real growth rate:​

2.8% (2003 est.)

GDP - per capita:​

purchasing power parity - $3,900 (2003 est.)

GDP - composition by sector:​

agriculture: 17%
industry: 33%
services: 50% (2003)

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):​

4.5% (2003 est.)

Labor force:​

20.1 million (2003 est.)

Labor force - by occupation:​

agriculture 32%, industry 17%, services 51% (2001 est.)

Unemployment rate:​

9.9% (2003 est.)

Budget:​

revenues: $14 billion
expenditures: $18.1 billion, including capital expenditures of $2.7 billion (2003 est.)

Industries:​

textiles, food processing, tourism, chemicals, hydrocarbons, construction, cement, metals

Industrial production growth rate:​

1.5% (2003 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 (2001 est.)

Oil - consumption:​

562,000 bbl/day (2001 est.)

Oil - exports:​

NA

Oil - imports:​

NA

Oil - proved reserves:​

3.308 billion bbl (1 January 2002)

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 (1 January 2002)

Agriculture - products:​

cotton, rice, corn, wheat, beans, fruits, vegetables; cattle, water buffalo, sheep, goats

Exports:​

$8.759 billion f.o.b. (2003 est.)

Exports - commodities:​

crude oil and petroleum products, cotton, textiles, metal products, chemicals

Exports - partners:​

US 18.5%, Italy 13.8%, UK 8.5%, France 4% (2002)

Imports:​

$14.75 billion f.o.b. (2003 est.)

Imports - commodities:​

machinery and equipment, foodstuffs, chemicals, wood products, fuels

Imports - partners:​

US 16.1%, Germany 7.5%, Italy 6.4%, France 6.2%, China 4.8% (2002)

Debt - external:​

$30 billion (2003 est.)

Economic aid - recipient:​

ODA, $1.2 billion (2001)

Currency:​

Egyptian pound (EGP)

Currency code:​

EGP

Exchange rates:​

Egyptian pounds per US dollar - 5.85 (2003), 4.5 (2002), 3.97 (2001), 3.47 (2000), 3.4 (1999)

Fiscal year:​

1 July - 30 June

Communications​

Telephones - main lines in use:​

7.43 million (2002)

Telephones - mobile cellular:​

4,494,700 (2002)

Telephone system:​

general assessment: large system; underwent extensive upgrading during 1990s and is reasonably modern; Internet access and cellular service are available
domestic: principal centers at Alexandria, Cairo, Al Mansurah, Ismailia, Suez, and Tanta are connected by coaxial cable and microwave radio relay
international: country code - 20; satellite earth stations - 2 Intelsat (Atlantic Ocean and Indian Ocean), 1 Arabsat, and 1 Inmarsat; 5 coaxial submarine cables; tropospheric scatter to Sudan; microwave radio relay to Israel; a participant in Medarabtel and a signatory to Project Oxygen (a global submarine fiber-optic cable system)

Radio broadcast stations:​

AM 42 (plus 15 repeaters), FM 14, shortwave 3 (1999)

Television broadcast stations:​

98 (September 1995)

Internet country code:​

.eg

Internet hosts:​

3,061 (2002)

Internet users:​

1.9 million (2002)

Transportation​

Railways:​

total: 5,105 km
standard gauge: 5,105 km 1.435-m gauge (42 km electrified) (2002)

Highways:​

total: 64,000 km
paved: 49,984 km
unpaved: 14,016 km (1999 est.)

Waterways:​

3,500 km
note: includes the Nile, Lake Nasser, Alexandria-Cairo Waterway, and numerous smaller canals in the delta; Suez Canal (193.5 km including approaches), used by oceangoing vessels drawing up to 16.1 m of water

Pipelines:​

condensate 327 km; condensate/gas 94 km; gas 6,145 km; liquid petroleum gas 382 km; oil 5,726 km; oil/gas/water 36 km; water 62 km (2003)

Ports and harbors:​

Alexandria, Al Ghardaqah, Aswan, Asyut, Bur Safajah, Damietta, Marsa Matruh, Port Said, Suez

Merchant marine:​

total: 159 ships (1,000 GRT or over) 1,194,696 GRT/1,754,815 DWT
foreign-owned: China 2, Cyprus 1, Denmark 1, Greece 6, Lebanon 2, Turkey 1
registered in other countries: 50 (2003 est.)
by type: bulk 18, cargo 41, container 5, passenger 64, petroleum tanker 14, roll on/roll off 13, short-sea/passenger 4

Airports:​

89 (2003 est.)

Airports - with paved runways:​

total: 72
over 3,047 m: 13
2,438 to 3,047 m: 38
under 914 m: 4 (2003 est.)
1,524 to 2,437 m: 17

Airports - with unpaved runways:​

total: 17
under 914 m: 9 (2003 est.)
2,438 to 3,047 m: 1
1,524 to 2,437 m: 2
914 to 1,523 m: 5

Heliports:​

2 (2003 est.)

Egypt Military​

Military branches: ​

Army, Navy, Air Force, Air Defense Command

Military manpower - military age:​

20 years of age (2004 est.)

Military manpower - availability:​

males age 15-49: 20,340,716 (2004 est.)

Military manpower - fit for military service:​

males age 15-49: 13,148,944 (2004 est.)

Military manpower - reaching military age annually:​

males: 756,233 (2004 est.)

Military expenditures - dollar figure:​

$2,443.2 million (2003)

Military expenditures - percent of GDP:​

3.6% (2003)

Transnational Issues​

Disputes - international:​

Egypt and Sudan retain claims to administer the triangular areas that extend north and south of the 1899 Treaty boundary along the 22nd Parallel, but have withdrawn their military presence - Egypt is economically developing and effectively administers the "Hala'ib triangle" north of the Treaty line

Illicit drugs:​

transit point for Southwest Asian and Southeast Asian heroin and opium moving to Europe, Africa, and the US; transit stop for Nigerian couriers; concern as money-laundering site due to lax financial regulations and enforcement