Economic Performance

Export performance is a major indicator and tool of economic growth and development in Egypt. The traditional export products were oil and cotton now followed by new non-traditional commodities such as clothing manufacture, chemicals, pharmaceuticals and metallurgy. Export development and providing an investment friendlier business climate are the main issues on the Egypt's government agenda for economic reform. Since the collapse of the Socialist economies in Central and Eastern Europe Egypt's export had experienced a major decline. To regain its export strength Egypt has now focused on a closer relation with the European Union. But this has been difficult, since the eastern markets were much less competitive with less demand for quality.

Table 1.: Gross Domestic Product by Sector, 1997