Economy of Egypt

Economy of Egypt

The business district of Egypt's new administrative capital
Currency	Egyptian pound (ISO code: EGP, abbreviation: LE)
Fiscal year	1 July – 30 June
Trade organisations	AfCFTA, African Union, COMESA, CAEU, WTO, BRICS
Country group	Developing/emerging[1] Lower-middle income economy[2]
Statistics
Population	108,340,000 (2024)[3]
GDP	US$345.87 billion (nominal, 2025)[4] US$2.37 trillion (PPP, 2025)[4]
GDP rank	35th (nominal; 2025) 17th (PPP; 2025)
GDP growth	2.672% (2024 est.)[3]
GDP per capita	US$3,161(nominal, 2025 est.)[3] US$21,610 (PPP, 2024 est.)[3]
GDP per capita rank	120th (nominal; 2024) 87th (PPP; 2024)
GDP by sector	Agriculture: 10.6% Industry: 32.7% Services: 51.6% (2023 est.)[5]
GDP by component	Household consumption: 82.6% Government consumption: 6.8% Investment in fixed capital: 15.2% Investment in inventories: −2.3% Exports of goods and services: 19.2% Imports of goods and services: −21.3% (2023 est.)[5]
Inflation (CPI)	26% (2024)[3]
Population below poverty line	18% at $3.65/day (2019)[6] 4.5% in extreme poverty (2019/2020)[7] 32% below national poverty line (2024 est.) [7] 60% of Egypt population are poor or middle class citizens
Gini coefficient	31.9 medium (2019)[8]
Human Development Index	0.728 high (2024)[9] (105th) 0.561 medium IHDI (2022)[9] (98th)
Corruption Perceptions Index	35 out of 100 points (2023, 108th rank)
Labour force	30 million (2024)[10] 41.9% employment rate (Q2 2021)[11]
Labour force by occupation	Agriculture: 25.8% Industry: 25.1% Services: 49.1% (2015 est.)[5]
Unemployment	7.230% (2024 est.)[3] 5.0% youth unemployment (Q2 2021; 15 to 19 year-olds)[11] 2.211 million unemployed (Q3 2021)[10]
Main industries	textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures
External
Exports	US$53.9 billion (2023)[12]
Export goods	refined petroleum, crude petroleum, petroleum gas, nitrogenous fertilizers and gold[12]
Main export partners	European Union 31.7%  Turkey 7.9%  United States 6%  India 4.8%  United Arab Emirates 4.4%  Saudi Arabia 4.4%  United Kingdom 3.9%  South Korea 2.9%  Kuwait 2.1%  Morocco 1.9%  China 1.9% (2022)[13]
Imports	US $95.7 billion (2023)[12]
Import goods	refined petroleum, wheat, cars, crude petroleum and maize
Main import partners	European Union 23.1%  China 17.4%  United States 6.9%  Saudi Arabia 6.7%  United Arab Emirates 5.8%  Turkey 4.9%  India 4.4%  Brazil 3.1%  Russia 3%  Kuwait 3% (2022)[14]
FDI stock	US$143.5 billion (2024)[15] Abroad: US$17.9 billion (2024)[15]
Gross external debt	US$152.1 billion (2024)[16]
Public finances
Government debt	90.857% of GDP (2024 est.)[3]
Budget balance	−US$24.928 billion (2024 est.)[3]
Revenues	E£2.301 trillion (2024 est.)[3]
Expenses	E£3.704 trillion (2024 est.)[3]
Credit rating	Standard & Poor's:[17] B Outlook: Stable Moody's:[18] B3 Outlook: Stable Fitch:[19] B+ Outlook: Stable Scope Ratings:[20] B− Outlook: Stable
Foreign reserves	US$46.9 billion (2024)[21]
All values, unless otherwise stated, are in US dollars.

The economy of Egypt is a highly centralized economy, focused on import substitution under president Gamal Abdel Nasser (1954–1970). During the rule of president Abdel Fattah el-Sisi (2014–present), the economy follows Egypt's 2030 Vision. The policy is aimed at diversifying Egypt's economy. The country's economy is the second largest in Africa by nominal GDP, and 39th in worldwide ranking as of 2024.

Since the 2000s, structural reforms (including fiscal and monetary policies, taxation, privatization and new business legislation) helped Egypt move towards a more market-oriented economy and increased foreign investment. The reforms and policies strengthened macroeconomic annual growth results and helped to address the country's serious unemployment and poverty rates.^[22][23] The country benefits from political stability; its proximity to Europe, and increased exports. From an investor perspective, Egypt is stable and well-supported by external stakeholders.^[24]