Egypt - Market Overview Egypt - Market Overview
In 2018, Egypt was the United States' 45th largest goods export market in the world and the third-largest export market for U.S. goods and services in the Middle East. Compared to 2017, U.S.-Egypt bilateral trade grew by 34 percent to $7.5 billion. The U.S. goods trade surplus with Egypt was $2.6 billion, a 9.3 percent increase over 2017. U.S. goods exports to Egypt were $5.1 billion, up 26.7 percent from the previous year. Corresponding U.S. imports from Egypt were $2.5 billion, up 51.6 percent. Sales of services in Egypt by majority U.S.-owned affiliates were $1.1 billion in 2016 (latest data available), while sales of services in the United States by majority Egypt-owned firms were $5 million.
U.S. foreign direct investment (FDI) in Egypt (stock) was $9.4 billion in 2017 (latest data available), a 25.5 percent decrease from 2016. Egypt is the second largest recipient of U.S. direct investment in Africa after Mauritius, and fourth in the Middle East after Israel, United Arab Emirates and Saudi Arabia. According to the Central Bank of Egypt, the U.S. remained the third largest foreign direct investor (FDI) in Egypt during FY 2017/18 behind the United Kingdom and Belgium. The United States invested $2.2 billion, 29% of all FDI in the country in the same period, a 22% increase over the previous fiscal year.
Egypt’s GDP fell approximately 29 percent in 2017. Foreign reserves rose to $ 44.03 billion in April 2018 from $38.2 billion in January 2018 with injections from the IMF and Gulf donors. Egypt’s credit rating is B. Delays in government decision making continue to create challenges for foreign traders and investors. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.