Population (2019, millions)¹	100.4
Population Projections (2030, millions)¹	120.8
Economically active population in agriculture (as % of Economically active population)12, 2019	22.6
Capital	Cairo
Surface Area (km²)²	1,001,450
Weather¹¹	In 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
Languages³	Official: Arabic - Others: English and French
Main Religions³	Main: Sunni Muslim - Others: Coptic Orthodox, Armenian Apostolic, Catholic, Maronite, Orthodox and Anglican
Time⁴	Eastern European Time (EET) +0200 UTC
Driving Orientation⁵	Right Side
Internet Country Code⁶	.eg
Country Calling Code	+20
Plug, Socket and Voltage⁷	Type C and F - 220V/50Hz
Currency	Egyptian Pound (EGP) - 1/100 = Piastre
Exchange Rate (As of 28 January 2019, per USD)⁸	17.85 (buy rate)
GDP at Market Prices (2018, current, billions of USD)⁹	250.9
GDP Growth (2018, annual %)⁹	5.31
Average GDP Growth (2014-2018, annual %)⁹	4.22
GDP per Capita, PPP (2018, current international $)⁹	12,390
Inflation, Consumer Prices (2017, annual %)⁹	29.5
Average Inflation, Consumer Prices (2013-2017, annual %)⁹	14.6
Total Reserves in Months of Imports (2018)⁹	5.95

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

• Egypt’s 2030 vision plans to develop a competitive, balanced and diversified economy. Supporting innovation and knowledge, social justice, economic development and the environment. The sustainable development strategy is achieved through a collaboration system investing in human capital and diversified locations in Egypt to improve Egyptians’ quality of life that is built on transparency and social equality. 
• Sustainable inclusive economic growth, Job creation and Increasing GDP per capita 
• Large consumer market 
• Egypt boasts a world class infrastructure base; telecommunication, road network, railway, maritime and logistics. 
• Egypt provides competitively prices and reliable supplies of power, water and gas. 
• Egypt possesses an abundance in natural resources that can easily meet the needs of agricultural, industrial and mining activities. 
• Egypt boasts a large, young, well-trained and highly competitive labor force of around 29.1 million (more than 31% of the total Egyptian population). 
• Every year approximately 300,000 Egyptians graduate from university; around 200,000 as trained engineers and 15,000 with European language skills. IT & telecom, energy, O&G, building materials, pharmaceuticals are particularly strong skillsets amongst graduates. 
• Because of its geographic location, as well as being the second largest signatory to multilateral trade agreements in the world, Egypt connects investors with established and emerging markets. 
• Egypt has a number of bilateral investment agreements in place with countries around the world, including Belgium, China, Finland, France, Germany, Greece, Italy, Japan, Libya, Luxembourg, Morocco, the Netherlands, Romania, Singapore, Sudan 

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

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.

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, Male	73.22
Labour Force, Total (number)	31,324,555

Source: World Bank, World Development Indicators 2019.

GDP

	2014	2015	2016	2017	2018
GDP at Market Prices (current, billions of USD)	305.5	332.7	332.9	235.4	250.9
GDP Growth (annual %)	2.9	4.37	4.34	4.18	5.31

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator	2018	2019
Agriculture	13.68	13.64
Manufacturing	19.84	19.79
Industry	42.75	42.33
Services	62.58	63.03
Construction	7.04	6.24
Electricity, gas and water	2.71	2.67
Mining and quarrying	13.16	13.63
Education	2.20	2.16
Finance, real estate and business services	20.06	17.45
Public administration and Defense	8.77	11.02
Health and Social Work	2.71	2.67
Other services	1.04	1.00
Transport, storage and communication	10.69	10.24
Wholesale and retail trade, hotels and restaurants	19.29	18.48

Source: AFDB Socio Economic Database.

Import Partners (Imported Value, thousands, USD)

Exporters	2014	2015	2016	2017	2018
World	71,337,744	74,361,267	58,052,632	66,338,776	80,992,322
China	8,057,649	9,775,827	7,554,203	8,105,329	11,517,084
Saudi Arabia	2,738,364	2,945,205	2,410,958	4,147,564	5,671,167
United States of America	5,198,838	4,378,825	3,095,178	3,896,808	5,464,793
Russian Federation	2,935,920	3,370,437	2,209,803	3,600,757	4,860,929
Germany	5,540,056	5,777,597	5,073,453	4,514,981	4,145,400

Source: International Trade Center COMTRADE Statistics.

Export Partners (Exported Value, thousands, USD)

Importers	2014	2015	2016	2017	2018
World	26,812,196	21,967,323	22,507,389	25,943,200	29,383,962
Italy	2,454,462	1,615,613	1,468,000	2,199,018	2,052,612
Turkey	1,450,638	1,272,011	1,437,501	1,866,522	2,015,535
United Arab Emirates	993,764	1,111,976	2,832,087	2,740,610	1,987,306
United States of America	1,129,121	1,232,180	1,013,525	1,328,118	1,728,746
Saudi Arabia	1,981,655	2,027,096	1,754,531	1,551,376	1,438,358

Source: International Trade Center COMTRADE Statistics.

Egypt Imports (Imported Value, Thousands, USD)

Code	Product label	2014	2015	2016	2017	2018
'TOTAL	All products	71,337,744	74,361,267	58,052,632	66,338,776	80,992,322
'27	Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral ...	9,898,882	11,862,142	8,271,962	11,523,151	14,099,286
'85	Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television ...	4,686,620	5,137,655	4,034,719	4,812,802	6,744,462
'84	Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof	5,767,082	6,052,536	5,284,562	5,717,289	6,456,565
'87	Vehicles other than railway or tramway rolling stock, and parts and accessories thereof	5,242,638	6,269,528	4,590,878	3,139,557	4,777,930
'10	Cereals	5,052,235	4,365,428	3,105,216	4,407,886	4,555,246

Source: International Trade Centre COMTRADE Statistics.

Egypt Exports (Exported Value, Thousands, USD)

Code	Product label	2014	2015	2016	2017	2018
'TOTAL	All products	26,812,196	21,967,323	22,507,389	25,943,200	29,383,962
'27	Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral ...	6,270,329	3,951,391	3,229,095	5,063,706	7,198,499
'39	Plastics and articles thereof	1,648,880	1,384,620	1,177,959	1,507,156	1,800,834
'85	Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television ...	1,958,631	1,751,691	1,534,603	1,727,684	1,562,293
'71	Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad ...	661,720	633,289	2,653,812	2,114,603	1,458,883
'08	Edible fruit and nuts; peel of citrus fruit or melons	1,052,722	1,123,147	1,196,098	1,269,869	1,399,078

Source: International Trade Centre COMTRADE Statistics.

FDI Inflows (millions of USD)

Year	2014	2015	2016	2017	2018
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)

Year	2014	2015	2016	2017	2018
FDI Outflows	252.7	181.7	206.6	199.0	323.5

FDI Inward Stock (millions of USD)

Year	2014	2015	2016	2017	2018
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)

Year	2014	2015	2016	2017	2018
FDI Outward Stock	6,839	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

Overall Doing Business Ranking

2020	114/190
2019	120/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank	90/190
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

2020 Rank	156/190
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 Rank	171/190
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

Legal Framework

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

Key guarantees in terms of investment protection include:

• Companies may not be confiscated or nationalized.
• Companies and their assets cannot be sequestered, seized or expropriated by administrative order.
• Projects are allowed to repatriate their capital and profits. 
• Projects may be entirely owned by foreigners. Furthermore, their boards of directors may be wholly composed of foreigners. 

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

Investment Incentives

• General Incentives:
• Investment projects established after the enforcement of the law will be granted an investment incentive in the form of a deduction (equal to 30% or 50% of the “investment costs,” with certain limitations) from the net taxable profits, in accordance with the investment map, which is geographically split into Sector A and Sector B. The sector determines the percentage deduction that will be granted.
• A five year exemption period from stamp duty tax and notarisation and registration fees for the deeds of association of companies and establishments, credit facilities and mortgage contracts connected with the company’s activities. This exemption will apply from the date of recording the items in the commercial register .
• A customs tax at a unified rate of 2% of the value is levied on the value of all imports (machines, equipment and instruments) imported by such projects.
• Temporary imports (that will be reshipped out of Egypt) of molds and other similar production requirements will be exempt from customs duties.  
• Free Trade Zones (FTZs) Incentives:

Projects in public free zones will be subject to:

• A fee of2%of the value of the commodities upon entry(cost, insurance and freight) for warehousing projects 
• A fee of 1% of the value of the commodities upon exit (free on board) for manufacturing and assembly projects 
• A fee exemption for trade of transit goods with a fixed destination
• A fee of 1% of total revenue realised for projects whose main activity does not require the entry or exit of commodities. This will be assessed based on the financial statements approved by a chartered accountant. 

Projects in private free zones will be subject to: 

• A fee of 1% of the total revenue realized for manufacturing and assembly projects upon exporting the commodities abroad, and 2% of the total revenue of these projects upon the entry of commodities into the local market 
• A fee exemption for trade of transit goods with a fixed destination and 
• A fee of 2% of the total revenue realized for projects not otherwise mentioned. 

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