Country Snapshot
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
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, Male | 73.22 |
Labour Force, Total (number) | 31,324,555 |
Source: World Bank, World Development Indicators 2019.
Economy Overview
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
Trade Profile
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 Centre 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.
Investment Profile
FDI Inflows (millions of USD)
Year | 2016 | 2017 | 2018 | 2019 | 2020 |
FDI Inflows | 8,106.8 | 7,408.7 | 8,141.3 | 9,010.0 | 5,851.8 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
FDI Outflows (millions of USD)
Year | 2016 | 2017 | 2018 | 2019 | 2020 |
FDI Outflows | 206.6 | 199.0 | 323.5 | 405.0 | 326.5 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
FDI Inward Stock (millions of USD)
Year | 2016 | 2017 | 2018 | 2019 | 2020 |
FDI Inward Stock | 102,324.0 | 109,677.0 | 117,728.0 | 126,639.0 | 132,477.0 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
FDI Outward Stock (millions of USD)
Year | 2016 | 2017 | 2018 | 2019 | 2020 |
FDI Outward Stock | 7,227.0 | 7,426.0 | 7,750.0 | 8,155.0 | 8,481.0 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
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
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 280
Source: World Bank, Doing Business, 2020
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.
Paying Taxes
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
Investment Regime
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:
-
- 1% of the value of goods on FOB basis for manufacturing and assembly projects.
- 1% of the operating value of the industrial or supplementary operations carried out on the goods and materials operated in the free zones for third parties.
- 2% of the value of goods (CIF) at the destination port, or customs valuation, whichever is greater, upon entrance to be used by the project, for storage projects
- 2% of the value of purchases in cases of direct procurement involving the purchase and sale of goods
- 1% of the value of the commission in cases of direct procurement, restricted to collection of brokerage commission
- 1% of the total revenue made without deducting any corresponding burdens to gain such revenues for projects whose main activity do not require the entry or exit of goods. This fee shall be collected on a semi-annual basis based on the revenue statement submitted by the project for the relevant period
- The final settlement of the due fees, according to the nature of the project activity, shall be effected, based on the financial statements and the supplementary clarifications approved by a legal accountant, after excluding the previously stated amounts
- Projects in public free zones will be subject to:
-
- 1% of the total revenues for manufacturing and assembly projects when exporting goods based on the customs clearance
- 2% of the total revenues of the project upon entry of goods to the country based on the sales invoice
- 1% of the operating value of the industrial or supplementary operations carried out on the goods and materials operated in the free zones for third parties
- 2% of revenues for storage projects when exporting goods as per the sale parties
- 2% of revenues in cases of direct procurement
- 2% of revenues without deducting any corresponding burdens to gain such revenues for projects whose main activity do not require the entry or exit of This fee shall be collected on a semi-annual basis based on the revenue statement submitted by the project for the relevant period.
- The final settlement of the due fees, according to the nature of the project activity, shall be effected, based on the financial statements and the supplementary clarifications approved by a legal accountant after excluding the previous amounts
Source: Source: Egypt General Authority for Investment and Free Zones – GAFI Online portal.
Country Snapshot
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
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, Male | 73.22 |
Labour Force, Total (number) | 31,324,555 |
Source: World Bank, World Development Indicators 2019.
Economy Overview
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
Trade Profile
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 Centre 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.
Investment Profile
FDI Inflows (millions of USD)
Year | 2016 | 2017 | 2018 | 2019 | 2020 |
FDI Inflows | 8,106.8 | 7,408.7 | 8,141.3 | 9,010.0 | 5,851.8 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
FDI Outflows (millions of USD)
Year | 2016 | 2017 | 2018 | 2019 | 2020 |
FDI Outflows | 206.6 | 199.0 | 323.5 | 405.0 | 326.5 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
FDI Inward Stock (millions of USD)
Year | 2016 | 2017 | 2018 | 2019 | 2020 |
FDI Inward Stock | 102,324.0 | 109,677.0 | 117,728.0 | 126,639.0 | 132,477.0 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
FDI Outward Stock (millions of USD)
Year | 2016 | 2017 | 2018 | 2019 | 2020 |
FDI Outward Stock | 7,227.0 | 7,426.0 | 7,750.0 | 8,155.0 | 8,481.0 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
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
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 280
Source: World Bank, Doing Business, 2020
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.
Paying Taxes
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
Investment Regime
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:
-
- 1% of the value of goods on FOB basis for manufacturing and assembly projects.
- 1% of the operating value of the industrial or supplementary operations carried out on the goods and materials operated in the free zones for third parties.
- 2% of the value of goods (CIF) at the destination port, or customs valuation, whichever is greater, upon entrance to be used by the project, for storage projects
- 2% of the value of purchases in cases of direct procurement involving the purchase and sale of goods
- 1% of the value of the commission in cases of direct procurement, restricted to collection of brokerage commission
- 1% of the total revenue made without deducting any corresponding burdens to gain such revenues for projects whose main activity do not require the entry or exit of goods. This fee shall be collected on a semi-annual basis based on the revenue statement submitted by the project for the relevant period
- The final settlement of the due fees, according to the nature of the project activity, shall be effected, based on the financial statements and the supplementary clarifications approved by a legal accountant, after excluding the previously stated amounts
- Projects in public free zones will be subject to:
-
- 1% of the total revenues for manufacturing and assembly projects when exporting goods based on the customs clearance
- 2% of the total revenues of the project upon entry of goods to the country based on the sales invoice
- 1% of the operating value of the industrial or supplementary operations carried out on the goods and materials operated in the free zones for third parties
- 2% of revenues for storage projects when exporting goods as per the sale parties
- 2% of revenues in cases of direct procurement
- 2% of revenues without deducting any corresponding burdens to gain such revenues for projects whose main activity do not require the entry or exit of This fee shall be collected on a semi-annual basis based on the revenue statement submitted by the project for the relevant period.
- The final settlement of the due fees, according to the nature of the project activity, shall be effected, based on the financial statements and the supplementary clarifications approved by a legal accountant after excluding the previous amounts
Source: Source: Egypt General Authority for Investment and Free Zones – GAFI Online portal.