Country Briefing for Business: Egypt, 2017 Regional Setting 1. Geography 2. Government 3. Economic Overview 4. Economy International (Trade in Goods) 5. Economy International (FDI) 6. Egyptian Pound to USD 7. Demographics 8. Cultural Dimensions 9. Business Landscape 10.Bibliography source: CIA 0
Egypt: Geography Top 5 Cities by Urban Pop (c2017) Cairo 20.4 mn Alexandria 4.5mn Giza 3.6 mn Shubra El-Kheima 1.1 mn Port Said 0.6 mn *Metropolitan Population Source: https://www.worldatlas.com/articles/the-biggest-cities-inmodern-egypt.html land mass: 995,500 km 2 1
Egypt: Government, 2017 Political System: Presidential Republic Leaders: President: Abdelfattah ELSISI (since 2014) Prime Minister: Sherif ISMAIL (Sept 2015-June 2018) Branches of Government: Legislative: Unicameral House of Representatives Executive: President, prime minister, parliament Judiciary: Highest courts & subordinate courts Main Legislative Body: unicameral House of Representatives (596 seats) Political Risk: -Hosni Mubarak (in office from 1981-2011) was forced to resign after the widespread protest during the Arab Spring. The country went through the Egyptian Crisis, where the new president-elected Mohamed Morsi was removed by the military in 2013 -Suffering from terrorist attacks in 2017. Unable to stabilize the security environment. -ELSISI has been accused for electronic surveillance and stifling dissents through power Legal System: mixed legal system based on Napoleonic civil and penal law, Islamic religious law, and vestiges of colonial-era laws Corruption Index: 117/180 (cf. Canada=8, US=6, India=81) Administrative Divisions: 27 governorates sources: CIA World Factbook, NYT, Transparency International ELSISI ISMAIL 2
source: tradingeconomics.com Egypt: Economic Overview, 2017 $ 237.1 bn GDP: GDP/capita: $12,700 GDP growth: 4.2% /yr. Inflation: 23.5% Unemployment rate: 12.2% Source: CIA, World Bank 3
In Mn In Mn Egypt: Economy-International (Trade in Goods) Composition Partners: Destinations/Sources Exports ($27.7 bn) Top goods: crude petroleum, gold, insulated wire. 0 500 1000 1500 2000 2500 3000 3500 4000 UAE Saudi Arabia Italy Turkey US Imports ($68.2 bn) Top goods: refined petroleum, petroleum gas, wheat, cars. Export Import 0 2000 4000 6000 8000 10000 China Germany Russia US Italy source:atlas.media.mit.edu Import Export 4
Egypt: Economy-International (FDI) Flows Origins/Destinations Inflow (US$ bn) 12 10 8 2017: 7.392 bn 2.0 6 4 2 0 1990 2000 2010 2017 Outflow (US$ bn) 1.6 1.2 0.8 0.4 0 1990 2000 2010 2017 2017: 0.199 bn source: Worldbank, The Arab Investment and Export Credit Guarantee Corporation 5
Egyptian Pound to USD: Exchange Rates 2016: Egypt unpegged the Egyptian pound (LE) from US$. The currency devalued by 48%. source: tradingeconomics 6
source: CIA World Factbook source: Encyclopaedia Britannica Egypt: Demographics, 2017 Proportion of World (2017) 9.7 mn Total pop: Growth rate: 2.45% Median age: 23.9 (see figure below) Languages: Arabic (official), English, French Religions: Muslim (predominantly Sunni) 90%, Christian (majority Coptic Orthodox) 10% Urban pop: 42.7% (see map) Pop density: 84/km 2 sources: CIA World Factbook, Google Search source: https://commons.wikimedia.org/ w/index.php?curid=57342108 7
Egypt: Cultural Dimensions source: geert-hofstede.com 8
Egypt: Business Landscape Industries by GDP Contribution Companies by Market Capitalization Manufacturing Industries 17.1% Commercial International Bank 5.1 B Wholesale & Retail trade 14.0% Global Telecom Holding 2B Agriculture*, Forestry & Fishing 11.9% Elsewedy Electric 1B General Government 10.3% source: Forbes, Bank Audi, Euromonitor Extractions 8% *Agriculture is the mainstay of economy, employing 25% of workforce Ease of Doing Business: 128/190 (cf. US=6, Canada=18, India= 100) source: World Bank 9
Bibliography United States Central Intelligence Agency. (2000) Europe, North Africa, and the Middle East. [Washington, D.C.: Central Intelligence Agency] [Map] Retrieved from the Library of Congress, https://www.loc.gov/item/2005626532/. Egypt, Arab Rep. Trade Summary. (n.d.). Retrieved from https://wits.worldbank.org/countryprofile/en/country/egy/year/ltst/summary Country Comparison. (n.d.). Retrieved from https://www.hofstede-insights.com/country-comparison The World Factbook: EGYPT. (2018, October 30). Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/eg.html Egypt. (n.d.). Retrieved from https://atlas.media.mit.edu/en/profile/country/egy/ Egypt GDP Growth Rate 1992-2018 Data Chart Calendar Forecast. (n.d.). Retrieved from https://tradingeconomics.com/egypt/gdp-growth Egypt Inflation Rate 1958-2018 Data Chart Calendar Forecast. (n.d.). Retrieved from https://tradingeconomics.com/egypt/inflation-cpi E.V., T. I. (n.d.). Egypt. Retrieved from https://www.transparency.org/country/ Foreign direct investment, net outflows (BoP, current US$). (n.d.). Retrieved from https://data.worldbank.org/indicator/bm.klt.dinv.cd.wd?end=2017&locations=eg&start=1977&view=chart&year_high_desc=true Egypt: Inward and Outward FDI(Rep.). (n.d.). The Arab Investment and Export Credit Guarantee Corporation. Retrieved from http://dhaman.net/wp-content/uploads/2016/02/egypt.pdf Egyptian Pound 2002-2018 Data Chart Calendar Forecast News. (n.d.). Retrieved from https://tradingeconomics.com/egypt/currency Smith, C. G., Goldschmidt, A. E., Holt, P. M., Little, D. P., Hopwood, D., & Baker, R. W. (2018, October 06). Egypt. Retrieved from https://www.britannica.com/place/egypt Amro. (n.d.). Biggest Companies, Top 100 Companies in The Arab World 2017 Forbes Middle East. Retrieved from https://www.forbesmiddleeast.com/en/list/the-top-100-companies-in-the-arab-world-2017/ Bankaudigroup.com. (2018). [online] Available at: http://www.bankaudigroup.com/groupwebsite/openaudifile1.aspx?id=3329 [Accessed 16 Nov. 2018] Egypt: Country Profile(pp. 1-5, Rep.). (n.d.). Retrieved November 15, 2018, from https://www.euromonitor.com/canada. 10