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Egypt » BusinessStatistics• GDP: US$85.4 billion (2006).
• Main imports: Machinery and equipment, food, chemicals, wood products and fuels. • Main exports: Crude oil, petroleum products, cotton, textiles and metal products. • Main trade partners: USA, Italy, China, Spain and Germany. EconomyOn taking power in 1952, President Nasser quickly instituted a Soviet-style command economy that was closed to Western investment. After Nasser’s death, his successor, Anwar Sadat, gradually dismantled the existing system in favour of a policy of infitah (openness) towards investment. Egypt’s economy underwent rapid growth during the 1970s with the swift expansion of the oil industry, tourism and the Suez Canal.
During the 1990s, stern fiscal policies, agreed with the IMF and World Bank, and further market-oriented measures slowed the Egyptian economy but in recent years it has picked up again. By 2007, annual growth had reached 7% although inflation had crept back up to 9% - double that of 2003. According to the 2006 census, unemployment stood at 9.3% (although there is considerable under-employment). Egypt’s major industries are textiles, fertilisers, rubber products and cement. There are also steel production works and several vehicle assembly plants. The main crops are cotton, rice, wheat, sugar, maize and a range of fruit and vegetables. The tourist sector is expanding rapidly, particularly along the Red Sea and Mediterranean coasts, despite sporadic terrorist activities of Islamic fundamentalists. Agriculture, which relies on irrigation from the Nile, employs one-third of the working population. Foreign aid, especially from the USA, is an important source of government funds. Business ContactsEgyptian-British Chamber of Commerce in the UK
PO Box 4EG, 299 Oxford Street, London W1A 4EG, UK Tel: (020) 7499 3100. Website: www.theebcc.com Federation of Egyptian Chambers of Commerce 4 El-Falaky Square, Cairo, Egypt Tel: (2) 355 1813 or 355 1136. Cairo Chamber of Commerce Address as for the Federation. Tel: (2) 355 8261. Cairo International Conference and Exhibition Centre Nasr Road, Nasr City, Cairo, Egypt Tel: (2) 2263 3222. Website: www.cicc.egnet.net Egyptian General Company for Tourism and Hotels (Information on Conferences/Conventions) 6th floor, 4 Latin America Street, Garden City, Cairo, Egypt Tel: (2) 2792 55529 or 2795 7355. Conferences & ConventionsCairo has many hotels and three large meeting halls (seating up to 2,000 people), which are equipped for use as conference centres. The Cairo International Conference Centre, 12km (7 miles) east of Cairo International Airport, has seating for 2,500 people, with an exhibition hall, banquet hall and comprehensive facilities. There is also a convention centre at Alexandria University, which has a main hall with seating for 2,400.
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Content in the country guide is updated every 3 months and is to the best of our knowledge accurate and up-to-date. The information contained is intented as a general guide - any opinions or travel advise expressed are not necessarily those of AME Info FZ LLC.
The information is provided in association with Columbus Travel Publishing Limited and my not be republished or reproduced in anyway without the prior written consent by the publisher.
All information made available from within this product is provided without warranty of any kind, either express or implied, including but not limited to, any warranties as to merchantability, non-infringement or fitness for a particular purpose. We accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from this information.
AME Info FZ LLC or Columbus Travel Publishing Limited shall not be liable for any technical, editorial or typographical or other errors or omissions within the information accessible through this product.
Whilst changes are periodically made to the information herein AME Info FZ LLC or Columbus Publishing Limited does not warrant that information currently accessible is either up-to-date or accurate.
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3D Animated Flags used in this section is courtesy of www.3DFlags.com
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Information in this section was last updated: Monday, September 29 - 2008
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