Is there any economic situation in Egypt?

It is an open market economy with a relatively complete industrial, agricultural and service system. The service industry accounts for about 5% of GDP. Industry is dominated by light industries such as textiles and food processing. Rural population accounts for 55% of the total population, and agriculture accounts for 14% of GDP. Oil and gas, tourism, remittances and Suez Canal are the four major sources of foreign exchange income.

The turbulent situation in Egypt since the beginning of p>211 has had a serious impact on the national economy. The Egyptian government took measures to resume production, increase revenue and reduce expenditure, attract foreign investment, improve people's livelihood, and seek international support and assistance in various ways to tide over economic difficulties, but the results were limited. After the interim government came to power in July 213, the economy faced great difficulties, and with a lot of financial support from Gulf Arab countries, the economic situation improved. After the establishment of the new government in June 214, it vigorously developed the economy and improved people's livelihood. The main economic data are as follows:

Gross domestic product (FY 217/18): 4,437.4 billion Egyptian pounds.

GDP per capita (fiscal year 217/18): 45,699 Egyptian pounds.

economic growth rate (217): 5.3%.

inflation rate (218): 2.3%.

Unemployment rate (218): 9.9%.

foreign exchange reserve: USD 44.5 billion

Currency name: Egyptian pound.

Official exchange rate: US$ 1 ≈17.8 Egyptian pounds [1]

Industry

Industries are mainly light industries such as textiles and food processing. Industry accounts for about 16% of GDP, and the export of industrial products accounts for about 6% of total merchandise exports, with 2.74 million industrial employees, accounting for 14% of the total labor force in China. Egypt's industrial enterprises used to be dominated by the state. Since the early 199s, Egypt has actively carried out privatization reform and sold hundreds of enterprises. [1]

agriculture

Egypt is a traditional agricultural country, with rural population accounting for 55% of the country's total population and about 5.5 million agricultural employees, accounting for 31% of the country's total labor force. The Egyptian government attaches great importance to expanding the area of cultivated land and encourages young people to farm. The arable land in China is 3.1 million hectares, accounting for about 3.7% of the total land area. In recent years, with the development of Egypt's economy, the proportion of agricultural output value to GDP has declined. The main crops are wheat, barley, cotton, rice, potatoes, broad beans, alfalfa, corn, sugar cane, fruits and vegetables. Mainly export cotton, rice, potatoes, oranges and so on. Cotton is the most important cash crop in Egypt, mainly medium-long staple cotton (below 35mm) and super-long staple cotton (above 36mm), which is called "national treasure" because of its long, smooth and good toughness. After the reform in recent years, agricultural production has achieved steady growth, and it is the first department to bear the brunt of economic opening up and get the fastest results. However, with the population growth, Egypt still needs to import food, making it one of the largest food importers in the world. In order to expand the area of cultivated land and increase agricultural output, in 215, President Sethi proposed the "Million Fedan" land improvement plan. [1]

Tourism

Egypt has a long history and many places of interest, and has good conditions for developing tourism. The government attaches great importance to the development of tourism. The main tourist attractions are pyramids, the Sphinx, Luxor Temple, Aswan High Dam and Sharm el-Sheikh. The turbulent situation since 211 has had a great impact on tourism. The number of tourists to Egypt, hotel room prices and tourism investment have all dropped significantly. In 212, it received 1.5 million tourists and earned about $1 billion. After the turmoil in Egypt at the end of June 213, many governments issued travel warnings to Egypt. In 214, Egypt's tourism revenue was US$ 7.5 billion, a year-on-year increase of 27%, and the number of tourists visiting Egypt was 1 million. In 215, Egypt's tourism revenue was about 6.1 billion US dollars, and the number of tourists to Egypt was 9.3 million. In 216, Egypt's tourism revenue was about 3.4 billion US dollars, and the number of tourists to Egypt was 4.5 million. In 217, Egypt's tourism revenue was about 5.3 billion US dollars, and the number of tourists to Egypt was 8.3 million. In 218, tourism revenue was 9.8 billion US dollars. [1]

foreign trade

Egypt has established trade relations with more than 12 countries and regions, and its main trading partners are the United States, France, Germany, Italy, Britain, Japan, Saudi Arabia and the United Arab Emirates. Due to the lack of export commodities, foreign trade has been in deficit for years. In order to expand foreign exports and reduce the trade deficit, the Egyptian government has taken the following measures: developing national industries and striving to produce more imported substitute goods; Restrict imports, especially the imports of consumer manufactured goods; Strive to expand exports, especially the export of non-traditional commodities other than crude oil and raw cotton.

Egypt's main imported commodities are machinery and equipment, grain, electrical equipment, fossil fuels, plastics and their products, steel and its products, wood and wood products, vehicles, animal feed, etc. The main export products are fossil fuels (crude oil and its products), cotton, ceramics, textiles and clothing, aluminum and its products, steel, grains and vegetables. Egypt's exports are mainly sold to Arab countries. [1]