Overview of Egypt

Economic Overview: Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile Valley, where the most economic activity takes place. In the last 30 years, the government has reformed the highly centralized economy it inherited from President NASSER. In 2005, Prime Minister Ahmed NAZIF reduced personal and corporate tax rates, reduced energy subsidies, and privatized several enterprises. The stock market boomed, and GDP grew nearly 5%.

Population: 79 Million

Labour Force: F21.34 million (2005 est.)

Currency: Egyptian pound. Click here to find exchange rates

Capital: Cairo

Legal System: based on English common law, Islamic law, and Napoleonic codes; judicial review by Supreme Court and Council of State (oversees validity of administrative decisions); accepts compulsory ICJ jurisdiction, with reservations

Chief of state: President Mohammed Hosni MUBARAK (since 14 October 1981)

Head of government: Prime Minister Ahmed NAZIF (since 9 July 2004)

Exports: $14.33 billion f.o.b. (2005 est.)

Export commodities: crude oil and petroleum products, cotton, textiles, metal products, chemicals

Export partners: US 13.4%, Italy 9.6%, Spain 7.8%, Syria 6%, France 4.9%, Germany 4.9%, UK 4.5% (2005)

Imports: $24.1 billion f.o.b. (2005 est.)

Imports - commodities: machinery and equipment, foodstuffs, chemicals, wood products, fuels

Import partners: US 10.8%, Germany 7.3%, China 6.6%, France 6.4%, Italy 5.9%, Saudi Arabia 4.5% (2005)
Source CIA The World Fact Book

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