Egypt has a diverse economy and is the largest domestic market and the largest pool of local talent in the region.
Its diversified market includes several sectors; services, industry, agriculture, construction and real estate, financial services, tourism, communication & information technology and logistics & infrastructure.
Egypt' s economy is picking up development at increasing rates, based on a climate luring investments represented in proper legislation, convenient policy, internal stability, trade and market liberalization.
Egypt possesses solid infrastructure of transportation, communication, energy sources, skillful manpower, modern industrial communities, banking system and stock market. Egypt enjoys preferential access to global markets through:
- Direct connection through the Suez Canal (from the India Ocean to the Mediterranean Sea).
- EU through the EUTA
- US through the QIZ
- Middle East through GAFTA
- Africa through COMESA
- Egypt-Turkey Agreement (FTA)
- Egypt-Switzerland EFTA Countries Agreement
Egypt is a major trade and crossroad destination between Europe, Middle East, Africa & West / South Asia.
Egypt's main trade partners are the US, UK, Italy, France and Germany, which together account for half of all its trade (49% in 05/06).
The EU is Egypt's biggest trading partner accounting for 42% of Egyptian exports. The trade between the EU & Egypt has risen by 5%.
The US is Egypt's 2nd largest trading partner accounting for 22% of Egyptian exports.
Over the past 2 years, Egypt sustained strong economic performance driven by strong external sector and broad range of economic reforms.
Overall growth of the economy is 7.1% with total foreign investment of 11 billion USD$. Sector Contribution to GDP:
- Industry & Mining 18%
- Agriculture 15%
- Petroleum products 12%
- Transportation 10%
- Housing & Real Estate 4%
- Hotels & Restaurants 3%
- Trade, Finance & Insurance 19%
- Government Services & Utilities 15%
- Construction & Building 4%
The Suez Canal, which links the Red Sea to the Mediterranean, is an important passage to Egypt and the World. It counts for 4% of the contribution of the transportation sector to the GDP. Natural Resources:
- Minerals: iron core, phosphates, manganese, limestone, lead, gypsum, talc, asbestos, zinc.
- Oil Reserves: 3600 million barrels.
- Natural Gas: 66 trillion f3