Country Snapshot

Population (2019, millions)¹100.4
Population Projections (2030, millions)¹120.8
Economically active population in agriculture (as % of Economically active population)12, 201922.6
CapitalCairo
Surface Area (km²)²1,001,450
Weather¹¹In Cairo: Hottest month, July, 21-36°C (average daily minimum and maximum); coldest month, January, 8-18°C; driest months, July, August, 0 mm average rainfall; wettest month, December, 5 mm average rainfall
Languages³Official: Arabic - Others: English and French
Main Religions³Main: Sunni Muslim - Others: Coptic Orthodox, Armenian Apostolic, Catholic, Maronite, Orthodox and Anglican
Time⁴Eastern European Time (EET) +0200 UTC
Driving Orientation⁵Right Side
Internet Country Code⁶.eg
Country Calling Code+20
Plug, Socket and Voltage⁷ Type C and F - 220V/50Hz
CurrencyEgyptian Pound (EGP) - 1/100 = Piastre
Exchange Rate (As of 28 January 2019, per USD)⁸17.85 (buy rate)
GDP at Market Prices (2018, current, billions of USD)⁹250.9
GDP Growth (2018, annual %)⁹5.31
Average GDP Growth (2014-2018, annual %)⁹4.22
GDP per Capita, PPP (2018, current international $)⁹12,390
Inflation, Consumer Prices (2017, annual %)⁹29.5
Average Inflation, Consumer Prices (2013-2017, annual %)⁹14.6
Total Reserves in Months of Imports (2018)⁹5.95

Sources:
¹United Nations Population Division, Department of Economic and Social Affairs.
²COMESA Statistics, COMESTAT Data Hub.
³CIA World Factbook.
⁴Time and Date Portal.
⁵Chartsbin Portal, "Worldwide Driving Orientation by Country".
⁶Wikipedia, "List of Internet top-level domains"; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Central Bank of Egypt.
⁹World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
12AFDB Socio Economic Database

Reasons to Invest in Egypt

Source: Egypt General Authority for Investment and Free Zones – GAFI Online portal 

Population

Population Projections (millions)

Population (2019)100.3
Population Projections (2030)120.1

Source: United Nations Population Division, Department of Economic and Social Affairs.

Population Residing in Urban Areas (%)

Population Projections (2019)42.7
Percentage of Population Residing in Urban Areas (2030)44.7

Source: United Nations Population Division, Department of Economic and Social Affairs.

Youth Literacy Rates (2017, %)

Youth Literacy Rate, Population 15-24 Years, Both Sexes 88.19
Youth Literacy Rate, Population 15-24 Years, Female 86.81
Youth Literacy Rate, Population 15-24 Years, Male 89.48

Source: United Nations Educational, Scientific and Cultural Organization, UNESCO Institute of Statistics.

Labour

Unemployment (2018, % of Total Labour Force, Modeled ILO Estimate)

Unemployment, Total 11.43
Unemployment, Female 23.1
Unemployment, Male 7.81

Source: World Bank, World Development Indicators 2019.

Labour Force (2017, % of Ages 15+, Modeled ILO Estimate)

Labour Force Participation Rate, Total 48.07
Labour Force Participation Rate, Female 22.83
Labour Force Participation Rate, Male73.22
Labour Force, Total (number)31,324,555

Source: World Bank, World Development Indicators 2019.

Economy - Overview

GDP

 20142015201620172018
GDP at Market Prices (current, billions of USD)305.5332.7332.9235.4250.9
GDP Growth (annual %)2.94.374.344.185.31

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator20182019
Agriculture13.6813.64
Manufacturing19.8419.79
Industry42.7542.33
Services 62.5863.03
Construction7.046.24
Electricity, gas and water2.712.67
Mining and quarrying13.1613.63
Education2.202.16
Finance, real estate and business services20.0617.45
Public administration and Defense8.7711.02
Health and Social Work2.712.67
Other services1.041.00
Transport, storage and communication10.6910.24
Wholesale and retail trade, hotels and restaurants19.2918.48

Source: AFDB Socio Economic Database.

Trade Profile

Import Partners (Imported Value, thousands, USD)

Exporters20142015201620172018
World71,337,74474,361,26758,052,63266,338,77680,992,322
China8,057,6499,775,8277,554,2038,105,32911,517,084
Saudi Arabia2,738,3642,945,2052,410,9584,147,5645,671,167
United States of America5,198,8384,378,8253,095,1783,896,8085,464,793
Russian Federation2,935,9203,370,4372,209,8033,600,7574,860,929
Germany5,540,0565,777,5975,073,4534,514,9814,145,400

Source: International Trade Center COMTRADE Statistics.

Export Partners (Exported Value, thousands, USD)

Importers20142015201620172018
World26,812,19621,967,32322,507,38925,943,20029,383,962
Italy2,454,4621,615,6131,468,0002,199,0182,052,612
Turkey1,450,6381,272,0111,437,5011,866,5222,015,535
United Arab Emirates993,7641,111,9762,832,0872,740,6101,987,306
United States of America1,129,1211,232,1801,013,5251,328,1181,728,746
Saudi Arabia1,981,6552,027,0961,754,5311,551,3761,438,358

Source: International Trade Center COMTRADE Statistics.

Egypt Imports (Imported Value, Thousands, USD)

CodeProduct label20142015201620172018
'TOTALAll products71,337,74474,361,26758,052,63266,338,77680,992,322
'27Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral ...9,898,88211,862,1428,271,96211,523,15114,099,286
'85Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television ...4,686,6205,137,6554,034,7194,812,8026,744,462
'84Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof5,767,0826,052,5365,284,5625,717,2896,456,565
'87Vehicles other than railway or tramway rolling stock, and parts and accessories thereof5,242,6386,269,5284,590,8783,139,5574,777,930
'10Cereals5,052,2354,365,4283,105,2164,407,8864,555,246

Source: International Trade Centre COMTRADE Statistics.

Egypt Exports (Exported Value, Thousands, USD)

CodeProduct label20142015201620172018
'TOTALAll products26,812,19621,967,32322,507,38925,943,20029,383,962
'27Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral ...6,270,3293,951,3913,229,0955,063,7067,198,499
'39Plastics and articles thereof1,648,8801,384,6201,177,9591,507,1561,800,834
'85Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television ...1,958,6311,751,6911,534,6031,727,6841,562,293
'71Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad ...661,720633,2892,653,8122,114,6031,458,883
'08Edible fruit and nuts; peel of citrus fruit or melons1,052,7221,123,1471,196,0981,269,8691,399,078

Source: International Trade Centre COMTRADE Statistics.

Investment Profile

FDI Inflows (millions of USD)

Year20142015201620172018
FDI Inflows 4,612 6,925 8,107 7,409 6,798 

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outflows (millions of USD)

Year20142015201620172018
FDI Outflows 252.7 181.7 206.6 199.0 323.5 

FDI Inward Stock (millions of USD)

Year20142015201620172018
FDI Inward Stock 87,485 94,307 102,324 109,677 116,385 

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outward Stock (millions of USD)

Year20142015201620172018
FDI Outward Stock6,839 7,020 7,227 7,426 7,750 

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inflows Main Source Countries (in terms of number of projects)

UAE, United States, France, Saudi Arabia, UK, China, Germany, India, Spain, and Italy. 

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Sectors (in terms of number of projects)

Financial Services, Coal, Oil and Natural Gas, Food and Tobacco, Business Services, Textiles, Software and IT services, Communications, Transportation, Hotels & Tourism, and Real Estate. 

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Companies (in terms of number of projects)

Credit Agricole Egypt, BNP Paribas, Majid Al Futtaim Group (MAF Group), Dana Gas, Abu Dhabi Islamic Bank, Savola, HSBC Egypt, Albaraka Bank Egypt, IBM, and Arab Bank. 

Source: Financial Times, fDi Markets, 2018

Doing Business

Overall Doing Business Ranking

2020114/190
2019120/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank90/190
Procedures (number)5
Time (days)12
Cost (% of income per capita*)20.3
Paid-in Minimum Capital (% of income per capita*)0.0

*GNI per capita used: USD 2,800
Source: World Bank, Doing Business, 2020

Paying Taxes

Paying Taxes

2020 Rank156/190
Payments (number per year)27
Time (hours per year)370
Total Tax Rate (% of profit)44.4
       Profit Tax (% of profit) 14.4
       Labor Tax and Contributions (% of profit)25.5
       Other Taxes (% of profit)4.4

Source: World Bank, Doing Business, 2020

Trading Across Borders

2020 Rank171/190
Time to Export: Border Compliance (hours)48
Cost to Export: Border Compliance (USD)258
Time to Export: Documentary Compliance (hours) 88
Cost to Export: Documentary Compliance (USD)100
Time to Import: Border Compliance (hours) 240
Cost to Import: Border Compliance (USD) 554
Time to Import: Documentary Compliance (hours) 265
Cost to Import: Documentary Compliance (USD) 1000

Assumptions:
* It is assumed that shipment travels from a warehouse in the largest business city of the exporting economy to a warehouse in the largest business city of the importing economy.
* It is assumed that each economy imports a standardized shipment of 15 metric tons of containerized auto parts (HS 8708) from its natural import partner—the economy from which it imports the largest value (price times quantity) of auto parts. It is assumed that each economy exports the product of its comparative advantage (defined by the largest export value) to its natural export partner—the economy that is the largest purchaser of this product.
* A shipment is a unit of trade. Export shipments do not necessarily need to be containerized, while import shipments of auto parts are assumed to be containerized.
* Shipping cost based on weight is assumed to be greater than shipping cost based on volume.
* If government fees are determined by the value of the shipment, the value is assumed to be $50,000.
* The mode of transport is the one most widely used for the chosen export or import product and the trading partner, as is the seaport, airport or land border crossing.
* Time is measured in hours, and 1 day is 24 hours.
* Costs do not include tariffs.
Source: World Bank, Doing Business, 2020

Investment Regime

Legal Framework

Investment Code – Law N. Law No. 72 of 2017

Key guarantees in terms of investment protection include:

Source: General Authority for Investment and Free Zones (GAFI) Online Portal.  

Investment Incentives

Projects in public free zones will be subject to:

Projects in private free zones will be subject to: 

Source: Deloitte, Guide to Fiscal Information, Key Economies in Africa 2018