Capital: Cairo (7,200,000 inhabitants; in Great Cairo – meaning considering the entire urban agglomeration – 15.8 millions of inhabitants)
Other main cities Alexandria (3.3 millions of inhabitants), El Giza (1.7 millions of inhabitants), Shubra el-Kheima (850,000 inhabitants), Port Said (469,000 inhabitants), Suez (418,000 inhabitants), El Mahalla el Kubra (410,000 inhabitants), and Tanta (400,000 inhabitants)
Population 67,890,000 inhabitants (density 68.04 inhabitants per sq km)
Language The official language is the Arabian, English and French are widely known and used, especially by the classes of a high cultural level.
Currency The currency unit is the Egyptian sterlin (E£) EGP, subdivided in 100 piastries (convertible currency from 1992). The exchange course at the 2nd of January 2003 is of 4.8486 Egyptian sterlins per 1 Euro; 4.6230 Egyptian Sterlins per 1 US$.
Main economical indicators
Indicator (*)
1999
2000
2001
2002
GIP atcurrent prices(millions of E£)
302.200
326.600
342.300
360.400
GIP atcurrent prices(billions of E£)
89,1
94,1
86,4
77,6
Actual increasing rate (%)
6
5,1
2,5
0,8
GIP pro inhabitant(US$)
1.446
n.d.
n.d.
n.d.
Inflation (%)
3,1
2,7
2,3
4,3
Unemployment rate (%)
11,8
11,5
12
Commercial balance (millions US$)
Exportations fob
5.240
7.061
7.025
7.022
Importations fob
15.200
17.569
15.797
15.212
Rest
-9.960
-10.508
-8.772
-8.190
Annual medium exchange rate£E/US$
3, 40
3,47
3,96
4,65
Externaldebt (millions of US$)
30.400
29.600
28.600
30,5
International reserves(millions of US$ - gold excluded)
14.484
13.118
12.926
13.110
(*) The indicators are based on the Egyptian fiscal year that begins the 1st of July, ends the 30th of June
Source: EIU, Economist Intelligence Unit: Country Report December 2002
Country risk
SACE – Insurance of credit for exportation
In the country risk classification, adjourned the 2nd of January 2003, the SACE puts Egypt on the 4th category among 7. No specific restriction NOTE
Inside such a class are included all countries whose level of risk could vary in a significant manner due to the specific situations of each. There where specific risk factors do not emerge will be indicated as “NO SPECIFIC RESTRICTION”; on the contrary, where clearly emerge risk situations (for example, a present high exposure, a high debt of the State, fragility of the banking sector), this could be defined in detail as “SPECIFIC RESTRICTIONS”. Nevertheless, we have to take into consideration that all operations must be evaluated in order to define the merit of the counterparties’ credit: in case this last one will not be retained as adequate, restrictions could be applied to correlate to the single operation.
