Overview of Egypt
Egypt is a north African country with a land area of 1,002,450km2 and a coastline of 515km. The country is separated from its neighbors by either ocean or sparsely populated desert. The culture-rich country of Egypt is bordered to the north by the Mediterranean Sea, and to the east by the Red Sea. Egypt is separated from Libya and North Africa by the western desert, from Palestine and Israel by the desert of the Sinai Peninsula, and fromthe centers of population in the Sudan by desert except along the narrow Nile River.
The sales of petroleum oils and bitumes (18.26%), Gold (9.8%), Fertilizers & chemicals (3.5%) Citrus fruits (2.82%)Insulated wires (2.32%), monitors & projectors (1.81%) and Iron (1.04%) accounts for about 40% of its export revenues (OEC2020). Egypt belongs to the Arab league of Nations, and is also part of other organizations such as African Union, IMF and UN.
Economic Snapshots
Egypt, with a land area of 1,002,450km2 a coastline of 515km, 28 ports (8 renders container liner services), in 2020 exported $33.6B and imported $76.4B, resulting in a negative trade balance. Egypt is predominantly an Islamic nation 95% and Coptic Christians and others 5%. Arabic (official) English and French are the languages spoken in the country. About 51% of the population is below 24years of age,It is a lower middle income country with a GDP per capita income of about $3.280 (IMF2020).
The GDP was about $364.02Bn (2020) which makes it 32nd (world) and 2nd (Africa) largest economy in terms of GDP (IMF). The 2020 figures for Interest, Inflation and unemployment rate is 11.25%, 13.20% and 7.20% respectively (tradingeconomics.com) Foreign companies should be looking at producing or exporting the following products to Egypt, as its major imports are Wheat, Crude Petroleum, Cars, Broadcasting Equipment, Refined Petroleum (OEC 2020).