Egypt - Economy
How is the economy of Egypt? Based on the information we have, Egypt has a Africa’s second-largest economy; 2030 Vision to diversify markets and energy infrastructure; improving fiscal, external, and current accounts; underperforming private sector; poor labor force participation; expanded credit access. Key agricultural products in this country include: sugarcane, sugar beets, wheat, maize, tomatoes, potatoes, rice, milk, onions, oranges (2022).
More about the economy of Egypt
| Labor force | 33.431 million (2023 est.) |
|---|---|
| Industrial production growth rate | -0.57% (2023 est.) |
| Industries | textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures |
| Population below poverty line | 29.7% (2019 est.) |
| Taxes and other revenues | 12.52% (of GDP) (2015 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Egyptian pounds (EGP) per US dollar - |
| Exchange rates 2023 | 30.626 (2023 est.) |
| Exchange rates 2022 | 19.16 (2022 est.) |
| Exchange rates 2021 | 15.645 (2021 est.) |
| Exchange rates 2020 | 15.759 (2020 est.) |
| Exchange rates 2019 | 16.771 (2019 est.) |
| Debt - external | |
| Debt - external 2019 | $109.238 billion (2019 est.) |
| Debt - external 2018 | $92.638 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $33.07 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $32.144 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $39.824 billion (2021 est.) |
| Current account balance | |
| Current account balance 2022 | -$10.537 billion (2022 est.) |
| Current account balance 2021 | -$18.611 billion (2021 est.) |
| Current account balance 2020 | -$14.236 billion (2020 est.) |
| Public debt | |
| Public debt 2017 | 103% of GDP (2017 est.) |
| Budget | |
| Revenues | $71.16 billion (2020 est.) |
| Expenditures | $100.318 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 6.11% of GDP (2023 est.) |
| Remittances 2022 | 5.94% of GDP (2022 est.) |
| Remittances 2021 | 7.41% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.8% (2019 est.) |
| Highest 10% | 27.5% (2019 est.) |
| Average household expenditures | |
| On food | 37.6% of household expenditures (2021 est.) |
| On alcohol and tobacco | 4.7% of household expenditures (2021 est.) |
| Imports | |
| Imports 2022 | $97.144 billion (2022 est.) |
| Imports 2021 | $94.039 billion (2021 est.) |
| Imports 2020 | $72.482 billion (2020 est.) |
| Imports (partners) | China 17%, US 7%, Saudi Arabia 7%, UAE 6%, Turkey 5% (2022) |
| Comodities Imports force | refined petroleum, wheat, crude petroleum, natural gas, plastics (2022) |
| Exports | |
| Imports 2022 | $97.144 billion (2022 est.) |
| Imports 2021 | $94.039 billion (2021 est.) |
| Imports 2020 | $72.482 billion (2020 est.) |
| Exports (partners) | Turkey 8%, Italy 6%, US 6%, Spain 6%, India 5% (2022) |
| Comodities Exports force | natural gas, fertilizers, garments, refined petroleum, crude petroleum (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $1.912 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $1.842 trillion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $1.729 trillion (2021 est.) |
| GDP (official exchange rate) | $395.926 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $17,000 (2023 est.) |
| Real GDP per capita 2022 | $16,600 (2022 est.) |
| Real GDP per capita 2021 | $15,800 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 11.7% (2017 est.) |
| Industry | 34.3% (2017 est.) |
| Services | 54% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 86.8% (2017 est.) |
| Government consumption | 10.1% (2017 est.) |
| Investment in fixed capital | 14.8% (2017 est.) |
| Investment in inventories | 0.5% (2017 est.) |
| Exports of goods and services | 16.3% (2017 est.) |
| Imports of goods and services | -28.5% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 7.31% (2023 est.) |
| Unemployment rate 2022 | 7.34% (2022 est.) |
| Unemployment rate 2021 | 7.44% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 19% (2023 est.) |
| Male | 12.6% (2023 est.) |
| Female | 49.2% (2023 est.) |
All Important Facts about Egypt
Want to know more about Egypt? Check all different factbooks for Egypt below.
