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

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, 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 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

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

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

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

General Incentives:

Projects in public free zones will be subject to:

Projects in public free zones will be subject to:

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

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

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, 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 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

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

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

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

General Incentives:

Projects in public free zones will be subject to:

Projects in public free zones will be subject to:

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