Egypt Facts and Figures

Egypt, located in Northeast Africa, borders the Mediterranean Sea to the north, the Red Sea to the east, Libya to the west, and Sudan to the south. Egypt's major cities include Cairo, the capital, and Alexandria. The Suez Canal, a crucial trade route, underscores Egypt's geographical significance. Egypt has joined various international organizations, including the African Union (AU) in 1963 and the Arab League in 1945. The country excels in sectors like agriculture, ranking among the world's largest cotton producers. Additionally, Egypt's rich cultural heritage and landmarks, such as the Pyramids of Giza, significantly boost its tourism industry.

Transformative Events

Egypt's modern history features several pivotal events that shaped its political and economic landscape. The 1952 Revolution, which overthrew the monarchy, established a republic and initiated widespread reforms. The Suez Crisis in 1956 emphasized Egypt's strategic importance, leading to nationalization of resources. The Arab Spring in 2011 sparked protests against corruption and economic issues, resulting in significant political changes. This revolution exemplified citizens' demands for democracy and socio-economic progress, prompting ongoing discussions about reform and stability in the region.

Democraphics Overview

Egypt's demographic landscape in 2023 shows a population of 112,716,598 with a moderate density of 110 people per square kilometer (2021). The population structure is markedly young, with a median age of 24 years (2024), and features a substantial working-age segment of 62.3%. The country's vital statistics indicate a population in transition, with a fertility rate of 2.9 (2022) and life expectancy of 70 years, while health indicators show a crude death rate of 6.4 per 1,000 persons and an infant mortality rate of 15.5 per 1,000 live births (2022). With an urbanization rate of 43.1% and annual population growth of 1.5% (2023), Egypt faces the challenge of balancing demographic changes with sustainable development, requiring strategic planning in infrastructure, education, and economic opportunities.

Economic Landscape

Egypt's economy shows notable growth in 2023, with a GDP of $395.9 billion (ranking 38th globally) and a growth rate of 6.6%. The country faces high inflation at 24.4% in 2023, expected to increase to 32.5% in 2024, affecting prices across the economy. The economic structure consists of three main sectors: services (51.4% of GDP), industry (32.7%, including manufacturing at 16%), and agriculture (10.9%). The trade deficit stands at $39.0 billion, as imports ($78.9 billion) significantly exceed exports ($39.9 billion). The labor market shows slight improvement with unemployment decreasing from 7.4% in 2021 to 7.3% in 2022. If you aim to to enter Egypt market, you can benefit from market research in Egypt to identify opportunities and mitigate risks.

Fiscal Health

Egypt's reliance on international support is evidenced by Net Official Development Assistance (ODA) representing 1.3% of Gross National Income (GNI) in 2022. The government's financial operations show persistent but stable deficits, with net lending/borrowing at -5.78% of GDP in 2022, marginally improving to -5.77% in 2023. The fiscal situation is further characterized by a substantial general government debt, reaching 88.53% of GDP in 2022.

Military Structure

Egypt's military structure is built around a large force of 439,000 personnel (as of 2016), making up 45.9% of the population. The country's military spending has stayed steady at 1.1% of GDP in both 2021 and 2022. This combination of a large military workforce with controlled defense spending shows Egypt's practical approach to maintaining its military strength while managing its budget carefully.

Conclusion

Egypt’s strategic location, youthful population, and evolving economy offer unique growth potential. With a blend of tradition and modernization, along with ongoing reforms, Egypt is shaping a dynamic market. Effective market research in Egypt, paired with local insights, is essential for you to understand and thrive in this promising landscape.