This article needs additional citations for verification. (January 2023) |
![]() The business district of Egypt's new administrative capital | |
Currency | Egyptian pound (ISO code: EGP, abbreviation: LE) |
---|---|
1 July – 30 June | |
Trade organisations | AfCFTA, African Union, COMESA, CAEU, WTO, BRICS |
Country group |
|
Statistics | |
Population | ![]() |
GDP | |
GDP rank | |
GDP growth |
|
GDP per capita | |
GDP per capita rank | |
GDP by sector |
|
GDP by component |
|
| |
Population below poverty line | |
31.9 medium (2019)[7] | |
![]() | |
Labour force | |
Labour force by occupation |
|
Unemployment | |
Main industries | textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures |
External | |
Exports | US$53.9 billion (2022)[11] |
Export goods | refined petroleum, crude petroleum, petroleum gas, nitrogenous fertilizers and gold[11] |
Main export partners |
|
Imports | US$95.7 billion (2022)[11] |
Import goods | refined petroleum, wheat, cars, crude petroleum and maize |
Main import partners |
|
FDI stock | |
Gross external debt | ![]() |
Public finances | |
![]() | |
−US$21.806 billion (2024 est.)[3] | |
Revenues | ![]() |
Expenses | ![]() |
US$46.383 billion (June 2024)[17] | |
All values, unless otherwise stated, are in US dollars. |
The economy of Egypt is a highly centralized economy, focused on import substitution under president Gamal Abdel Nasser (1954–1970). During the rule of president Abdel Fattah el-Sisi (2014–present), the economy follows Egypt's 2030 Vision. The policy is aimed at diversifying Egypt's economy. The country's economy is the second largest in Africa by nominal GDP, and 42nd in worldwide ranking as of 2024.[3]
Since the 2000s, the pace of structural reforms (including fiscal and monetary policies, taxation, privatization and new business legislation) helped Egypt move towards a more market-oriented economy and prompted increased foreign investment. The reforms and policies have strengthened macroeconomic annual growth results. As Egypt's economy healed, other prominent issues like unemployment and poverty began to decline significantly.[18][19] The country benefits from political stability; its proximity to Europe, and increased exports. From an investor perspective, Egypt is stable and well-supported by external stakeholders.[20]
© MMXXIII Rich X Search. We shall prevail. All rights reserved. Rich X Search