Economy of Egypt

Economy of Egypt

The business district of Egypt's new administrative capital
Currency	Egyptian pound (ISO code: EGP, abbreviation: LE)
Fiscal year	1 July – 30 June
Trade organisations	AfCFTA, African Union, COMESA, CAEU, WTO, BRICS
Country group	Developing/emerging[1] Lower-middle income economy[2]
Statistics
Population	109,450,000 (2025)[3]
GDP	$347.34 billion (nominal, 2025)[3] $2.37 trillion (PPP, 2025)[3]
GDP rank	41st (nominal; 2025) 17th (PPP; 2025)
GDP growth	3.8% (2025 est.)[3]
GDP per capita	$3,174 (nominal, 2025 est.)[3] $21,668 (PPP, 2025 est.)[3]
GDP per capita rank	133rd (nominal; 2025) 87th (PPP; 2025)
GDP by sector	Agriculture: 10.6% Industry: 32.7% Services: 51.6% (2023 est.)[4]
GDP by component	Household consumption: 82.6% Government consumption: 6.8% Investment in fixed capital: 15.2% Investment in inventories: -2.3% Exports of goods and services: 19.2% Imports of goods and services: -21.3% (2023 est.)[4]
Inflation (CPI)	20% (2025)[3]
Population below poverty line	Extreme poverty: 4.5% (2019)[5] At $3.65/day: 18% (2019)[6] National poverty line: 29.7% (2021) [5]
Gini coefficient	31.9 medium (2019)[7]
Human Development Index	0.728 high (2024)[8] (105th) 0.561 medium IHDI (2022)[8] (98th)
Corruption Perceptions Index	35 out of 100 points (2023, 108th rank)
Labour force	33.75 million (2024)[9] 45.5% labor force participation rate (2024)[10]
Labour force by occupation	Agriculture: 18.66% Industry: 26.36% Services: 52.98% (2022 est.)[11]
Unemployment	7.7% (2025)[3] 18.8% youth unemployment (2024; 15 to 24 year-olds)[12] 2.445 million unemployed (2024)[13]
Main industries	textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures
External
Exports	$51.1 billion (2023)[14]
Export goods	Oil, natural gas, and refined petroleum products, fertilizers and other chemical products, metals and building materials, vegetables and foodstuffs, textiles, gold, electrical equipment and electronics. [14]
Main export partners	European Union 31.7%  Turkey 7.9%  United States 6%  India 4.8%  United Arab Emirates 4.4% (2022)[15]
Imports	$88.2 billion (2023)[14]
Import goods	Oil, natural gas, and refined petroleum products, machines, raw ores and metals, pharmaceutical and chemical products, wheat and maize, cars and plastic polymers. [14]
Main import partners	European Union 23.1%  China 17.4%  United States 6.9%  Saudi Arabia 6.7%  United Arab Emirates 5.8% (2022)[16]
FDI stock	$46.1 billion (2024)[17]
Current account	-5.8% of GDP (2025)[3]
Gross external debt	$155.2 billion (2024)[18]
Public finances
Government debt	87% of GDP (2025))[3]
Foreign reserves	$48.14 billion (April 2025)[19]
Budget balance	−$41.80 billion (2025)[3]
Revenues	$57.63 billion (2025)[3]
Expenses	$99.43 billion (2025)[3]
Credit rating	Standard & Poor's:[20] B Outlook: Stable Moody's:[21] B3 Outlook: Stable Fitch:[22] B+ Outlook: Stable Scope Ratings:[23] B− Outlook: Stable
All values, unless otherwise stated, are in US dollars.

The economy of Egypt is a developing, mixed economy, combining private enterprise with centralized economic planning and government regulation.^[24] It is the second-largest economy in Africa, and 41st in worldwide ranking as of 2025. Egypt is a major emerging market economy and a member of the African Union, BRICS, and a signatory to the African Continental Free Trade Area (AfCFTA). The country is witnessing a period of economic recovery after facing serious financial challenges.^[25]

The Egyptian economy has been bolstered by a series of reforms under its sustainable development strategy Egypt Vision 2030, including a dramatic currency flotation in 2024 that led to a 38% depreciation of Egyptian pound against the dollar after securing over $50 billion in international financing. These actions, alongside strategic agreements with global partners such as the IMF, World Bank, the European Union, and the Gulf States, have contributed to an improved credit outlook.^[25]

Since the 2000s, structural reforms (including fiscal and monetary policies, taxation, privatization and new business legislation) helped Egypt move towards a more market-oriented economy and increased foreign investment. The reforms and policies strengthened macroeconomic annual growth results and helped to address the country's serious unemployment and poverty rates.^[26][27]

Despite facing significant challenges, especially external shocks such as the global economic impacts of the Ukraine conflict and regional instability, Egypt's economy remains resilient. The government's efforts to engage with international financial markets and stabilize the economy have paved the way for continued growth and further economic integration within the broader African and global markets.^[25] The country benefits from political stability; its proximity to Europe, and increased exports.^[28]