GFmag Online Readers Survey 2012
Egypt


Egypt Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Egypt; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankCentral Bank of Egypt
International ReservesUS$ 24.410 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 231.111 billion (2011 estimate)
GDP (Purchasing Power Parity)508.265 billion of International dollars (2011 estimate)
Real GDP growth
20002001200220032004200520062007
5.4%3.5%3.2%3.2%4.1%4.5%6.8%7.1%
2008200920102011*
7.2%4.7%5.1%1%

*Estimate

GDP per capita - current pricesUS$ 2,892 (2008 estimate)
GDP per capita - PPP$6,361 International Dollars (2008 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.46%0.56%0.59%0.67%0.72%

**Forecast

GDP - composition by sector
  • agriculture: 14.4% 
  • industry: 39.5% 
  • services: 45.8% (2011 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
11.7%(2008)16.2%11.7%11.5%

*Estimate

Unemployment rate
2008200920102011*
8.1%9.4%9.2%(2009)9.2%

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
87.1%76.6%75.6%73.8%74.9%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-7.5%-7.8%-7%-8.2%-7.6%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB+/Stable/B

Moody's rating: Ba1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$139.289 billionUS$85.885 billionUS$89.953 billion
Largest companies in EgyptOrascom Construction Inds (Construction Services), Orascom Telecom (Telecommunications services), Telecom Egypt (Telecommunications services), Commercial International Bank (Regional Banks)
(2011)
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -6.3 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP-2.7% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

25.1% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.17%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.64%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$25.34 billion f.o.b. (2010 estimate)
Export commoditiescrude oil and petroleum products, cotton, textiles, metal products, chemicals
Total importsUS$56.43 billion f.o.b. (2008 estimate)
Import commoditiesmachinery and equipment, foodstuffs, chemicals, wood products, fuels
Exports - major partnersUS 9.7%, Italy 9.5%, Spain 7.6%, Syria 5.5%, Saudi Arabia 4.9%, UK 4.2% (2007)
Imports - major partnersUS 11.7%, China 9.7%, Italy 6.4%, Germany 6.3%, Saudi Arabia 4.7%, Russia 4.3% (2007)
FDI inflows
200820092010
US$9,495 millionUS$6,712 million(2009)US$6,386 million(2009)
FDI outflows
200820092010
US$1,920 millionUS$571 millionUS$1,176 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$4,613 millionUS$76 million(2009)US$1,091 million(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

NNS Holding, Lafarge SA, France, $4.1 billion

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 94 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 18 out of 183 countries(2009)

Registering property: 93 out of 183 countries

Paying Taxes: 136 out of 183 countries

Getting credit: 72 out of 183 countries

Protecting investors: 74 out of 183 countries

Trading across border: 21 out of 183 countries

Enforcing Contracts: 143 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		94

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 96 Score: 59.1 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+2
Total area 1,002,000 km2 (2006)
CapitalCairo (2009)
CurrencyEgyptian pounds (EGP) (2009)
Government typerepublic (2009)
LanguagesArabic (official), English and French widely understood by educated classes
ReligionsMuslim (mostly Sunni) 90%, Coptic 9%, other Christian 1%
Total population
1980199020002010*2015**
40.55 million51.36 million63.3 million78.24 million86.38 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
37.9%43.9%42.6%42.8%
Population median age23.0 years (2006)
Population growth rate1.8% (2009)
Life expectancy71 years (2007)
Adult literacy72% (2000/2007)
% of population living on less than $2 a day18.46% (2011)
Inequality of wealth distribution (Gini index)

32.1 (2005)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:6
Civil Liberties:5 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

98.96% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population26.74% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Cairo: 128th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

2.5798 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TREASURY & CASH MANAGEMENT BANKS & PROVIDERS

2010:
  • Best Provider of Money Market Funds Banque Misr (Africa, 2010)
2009:
  • Best Provider of Money Market Funds Banque Misr (Africa, 2009)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2012:
  • COUNTRY WINNERS Commercial International Bank (CIB) (National, 2012)
2011:
  • COUNTRY WINNERS Commercial International Bank (CIB) (National, 2011)
2010:
  • COUNTRY WINNERS Commercial International Bank (CIB) (National, 2010)
2009:
  • COUNTRY WINNERS Commercial International Bank (CIB) (National, 2009)

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Citi (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Citi (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2009)

WORLD'S BEST ISLAMIC FINANCE INSTITUTIONS

2012:
  • COUNTRY WINNERS Faisal Islamic Bank of Egypt (National, 2012)
2011:
  • COUNTRY WINNERS Faisal Islamic Bank of Egypt (National, 2011)
2010:
  • COUNTRY WINNERS Faisal Islamic Bank of Egypt (National, 2010)
2009:
  • COUNTRY WINNERS Faisal Islamic Bank of Egypt (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Commercial International Bank (National, 2012)
2011:
  • COUNTRY WINNERS Commercial International Bank (National, 2011)
2010:
  • COUNTRY WINNERS Commercial International Bank (National, 2010)
2009:
  • COUNTRY WINNERS Commercial International Bank (CIB) (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • COUNTRY WINNERS Commercial International Bank (National, 2011)
2010:
  • COUNTRY WINNERS Commercial International Bank (National, 2010)
2009:
  • COUNTRY WINNERS CIB (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2012:
  • COUNTRY WINNERS Arab African International Bank (National, 2012)
2011:
  • COUNTRY WINNERS Arab African International Bank (National, 2011)
2010:
  • COUNTRY WINNERS EFG-Hermes (National, 2010)
2009:
  • COUNTRY WINNERS EFG-Hermes (National, 2009)

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST National Bank of Egypt (Global, 2010)
  • OVERALL BIGGEST Banque Misr SAE (Global, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:
  • COUNTRY WINNERS CIB (National, 2012)
2011:
  • COUNTRY WINNERS Arab African International Bank (National, 2011)
  • COUNTRY WINNERS CIB (National, 2011)
2010:
  • COUNTRY WINNERS Commercial International Bank (National, 2010)
2009:
  • COUNTRY WINNERS Commercial International Bank (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE