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Economy
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% (2000)
Labor force: 19.9 million (2000 est.)
Labor force - by occupation: agriculture 29%, services 49%, industry 22% (FY99)
Unemployment rate: 11.5% (2000 est.)
Budget: revenues: $22.6 billion
Expenditures: $26.2 billion, including capital expenditures of $NA (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: $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: $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)
Currency code: EGP
Exchange rates: Egyptian pounds per US dollar - market rate - 3.8400 (January 2001), 3.6900 (2000), 3.4050 (1999), 3.3880 (1998), 3.3880 (1997), 3.3880 (1996)
Fiscal year: 1 July - 30 June
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International organization participation:
ABEDA, ACC, ACCT (associate), AfDB, AFESD, AL, AMF, BSEC (observer), CAEU, CCC, EBRD, ECA, ESCWA, FAO, G-15, G-19, G-24, G-77, IAEA, IBRD, ICAO, ICC, ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM, ISO, ITU, MINURSO, MONUC, NAM, OAPEC, OAS (observer), OAU, OIC, OSCE (partner), PCA, UN, UNAMSIL, UNCTAD, UNESCO, UNIDO, UNITAR, UNMIBH, UNMIK, UNMOP, UNOMIG, UNRWA, UNTAET, UPU, WFTU, WHO, WIPO, WMO, WToO, WTrO
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Transportation
Railways: total: 4,955 km
Standard gauge: 4,955 km 1,435-m gauge (42 km electrified; 1,560 km double track) (2000)
Highways: total: 64,000 km
Paved: 50,000 km
Unpaved: 14,000 km (1996)
Waterways: 3,500 km
Note: including 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: crude oil 1,171 km; petroleum products 596 km; natural gas 460 km
Ports and harbors: Alexandria, Al Ghardaqah, Aswan, Asyut, Bur Safajah, Damietta, Marsa Matruh, Port Said, Suez
Merchant marine: total: 181 ships (1,000 GRT or over) totaling 1,336,678 GRT/1,982,220 DWT
Ships by type: bulk 23, cargo 61, container 2, liquefied gas 1, passenger 61, petroleum tanker 15, roll on/roll off 15, short-sea passenger 3 (2000 est.)
Airports: 90 (2000 est.)
Airports - with paved runways: total: 69
Over 3,047 m: 12
2,438 to 3,047 m: 35
1,524 to 2,437 m: 17
914 to 1,523 m: 2
Under 914 m: 3 (2000 est.)
Airports - with unpaved runways: total: 21
2,438 to 3,047 m: 2
1,524 to 2,437 m: 2
914 to 1,523 m: 7
Under 914 m: 10 (2000 est.)
Heliports: 2 (2000 est.)
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| Region |
Type |
Price |
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| USA |
Calrose #1 |
$1100 |
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| USA |
Calrose #1 Paddy |
$ N/A |
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| Egypt |
101 #2 |
$ N/A |
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| EU Prices |
Baldo |
€1000 |
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