Egypt - Market OverviewEgypt - Market Overview
Egypt is an important strategic partner to the United States, and our country continues to engage with Egypt to advance mutually shared interests, including strong commercial ties.
With a population of over 99 million and a GDP of USD 335 billion, there are solid opportunities for U.S. firms in the medium-to-long term. Egypt’s strategic location offers companies a platform for their commercial activities into the Middle East and Africa.
In 2017, U.S. – Egypt bilateral trade was USD 5.6 billion, versus USD 7.9 billion in 2014. U.S. exports to Egypt increased by 14% from USD 3.4 billion in 2016 to USD 3.9 billion in 2017, while Egyptian exports to the U.S. increased by 9% from USD 1.4 billion to USD 1.6 billion. Egypt is the third-largest export market for U.S. products and services in the Middle East and the 39th-largest export market in the world.
U.S. investment in Egypt reached USD 22.2 billion in 2016, representing 38.6% of U.S. direct investment in Africa. In 2016, Egypt was the largest recipient of U.S. direct investment in Africa, and second in the Middle East. The U.S. is Egypt’s third largest-trading partner and third-largest foreign investor.
Egypt’s GDP fell approximately 29 percent in 2017. Foreign reserves rose to USD 44.03 billion in April 2018 from USD 38.2 billion in January 2018 with injections from the IMF and Gulf donors. The critically low foreign reserves and constraints on capital movements that so severely handicapped the economy in 2016 and 2017 have largely been resolved. Egypt’s credit rating is B.
Delays in government decision making and foreign currency uncertainty continue to create challenges for foreign traders and investors.
Egypt Trade Development and Promotion