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Egypt

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Summary

One of the most recognised African nations, Egypt was a powerful force in ancient history before falling under the control of a number of empires, eventually gaining independence from the British Empire in 1936. With a population of more than 82 million, it is the 16th most populous nation on earth, with only Ethiopia (90.8m) and Nigeria (155.2m) out-populating it in Africa. Egypt also provides the only land border with another region, with Gaza (11km) and Israel (266km) marking the frontier to the Middle East. Its other neighbours are Libya (1,115km) to the west and Sudan (1,273km) to the south.

A wave of protests of relatively loosely organized youth groups with support of Islamist and civil organizations forced an end to the 30+ years of Mubarak rule. In February the ever-present military took power by appointing an interim civil government, which made it very clear -right from the start- to be willing to honor all existing international financial and diplomatic obligations.

Parliamentary and presidential elections plus a referendum on a potentially controversial new constitution are announced for the coming nine months.

Things to watch:

• FX reserves of central and commercial banks

• Election processes and outcomes

Central bank

Central Bank of Egypt

International Reserves

US$ 24.410 billion (Source: IMF; Data updated: November 2011)

Gross Domestic Product - GDP

US$ 231.111 billion (2011 estimate)

GDP (Purchasing Power Parity)

508.265 billion of International dollars (2011 estimate)

Real GDP growth

2000

2001

2002

2003

2004

2005

2006

2007

5.4%

3.5%

3.2%

3.2%

4.1%

4.5%

6.8%

7.1%

2008

2009

2010

2011*

7.2%

4.7%

5.1%

1%

*Estimate

GDP per capita - current prices

US$ 2,892 (2008 estimate)

GDP per capita - PPP

$6,361 International Dollars (2008 estimate)

GDP (PPP) - share of world total

1980

1990

2000

2010

2015**

0.46%

0.56%

0.59%

0.67%

0.72%

**Forecast

GDP - composition by sector

  • agriculture: 13.7%
  • industry: 37.6%
  • services: 48.7% (2009 estimate)
  • (Data released on November 2010)

Gross domestic expenditure on R&D (% of GDP)

N/A

(Data released on November 2010)

Inflation

2008

2009

2010

2011*

11.7%

16.2%

11.7%

11.5%

*Estimate

Unemployment rate

2008

2009

2010

2011*

8.1%

9.4%

9.2%

9.2%

*Estimate

Household saving rates

N/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)

2007

2008

2009

2010

2011*

87.1%

76.6%

75.6%

73.8%

74.9%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)

2007

2008

2009

2010*

2011**

-7.5%

-7.8%

-7%

-8.2%

-7.6%

*Estimate   **Forecast

Government bond ratings

Standard & Poor's: BB+/Stable/B

Moody's rating: Ba1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares

2007

2008

2009

US$139.289 billion

US$85.885 billion

US$89.953 billion

Largest companies in Egypt

Orascom Construction Inds (Construction Services), Orascom Telecom (Telecommunications services), Telecom Egypt (Telecommunications services), Commercial International Bank (Regional Banks)

(2011)

Current account balance

US$ -6.3 billion (2011 estimate)

Current account balance by percentage of GDP

-2.7% of GDP (2011 estimate)

Exports as percent of GDP

(Exports of goods and services)

25.1% (2009)

(Data released on December 2010)

Shares in world total merchandising export

0.17%

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export

0.64%

(Data were released in Nov 2011 and refer to 2010)

Total exports

US$25.34 billion f.o.b. (2010 estimate)

Export commodities

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

Total imports

US$56.43 billion f.o.b. (2008 estimate)

Import commodities

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

Exports - major partners

US 9.7%, Italy 9.5%, Spain 7.6%, Syria 5.5%, Saudi Arabia 4.9%, UK 4.2% (2007)

Imports - major partners

US 11.7%, China 9.7%, Italy 6.4%, Germany 6.3%, Saudi Arabia 4.7%, Russia 4.3% (2007)

Best countries for doing business

 

Overall ranking: 94 out of 183 countries (2010)

Subcategories:

Starting a business: 18 out of 183 countries

Registering property: 93 out of 183 countries

Paying Taxes: 136 out of 183 countries

Getting credit: 72 out of 183 countries

Protecting investors: 74 out of 183 countries

Trading across border: 21 out of 183 countries

Enforcing Contracts: 143 out of 183 countries

(2010)

Global competitiveness ranking

(ranking by country on a basis of 142, the first is the best)

94

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 96 Score: 59.1 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

Contact

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