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Istanbul Africa Trade Company

Country Profiles

Egypt

Egypt is the third largest economy in Africa and it is located in the north part of the continent. Egypt has a population of around 100 million people and its GDP is $235 billion. Egypt has a strategic location and the Suez Canal is located in this country.

Egypt was part of the British Empire until it gained independence in 1922.  Its official language is Arabic and capital city is Cairo. The population of Cairo is 20 million and the population of the second biggest city, Alexandria, is around 5 million. Egypt’s economic growth slowed down following the political events in 2011.

Egypt’s biggest import partner is China and they import diverse range of products from them. Egypt especially imports industrial products and food. Egypt mainly exports its products to Middle East, Turkey and Europe. Their exports are concentrated in petroleum, gold and textiles.

Turkey has more than $2 Billion direct investment in Egypt and Turkish companies employ more than 75,000 Egyptian employees. Main sectors of Turkish companies operating in Egypt are textiles, automotive and financial services. There are ongoing initiatives for opening a Turkish-Egyptian University and industrial zones. There are important opportunities in exporting consumer goods and industrial products.

Below, you can see the fact sheet, macroeconomic outlook and trade relations of Egypt with Turkey.

Four charts for Egypt. Population rises from about 70 million in 2000 to 97 million in 2017. GDP grows from about US$100 billion to a peak near US$330 billion, then falls to about US$235 billion. Total imports stay well above exports throughout, peaking near US$78 billion in 2014. Imports from Turkey run between about US$1.7 and US$3.2 billion, above exports to Turkey at about US$1 to US$2 billion. Turkey's exports to Egypt in 2008 and 2017: a pie chart splitting the ten largest product groups from all others, the total value of exports, and a table naming those ten products with each one's share. The same figures are listed as a table further down this page.
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Country at a glance

Capital city
Cairo
Official language
Arabic
Population
98 million
GDP
$235 billion
GDP per capita
$2,413
Human Development Index
0.696
Top 3 import partners
China, Russia, Germany
Top 3 export partners
United Arab Emirates, Italy, Turkey
Top 3 import products
Refined Petroleum, Petroleum Gas, Wheat
Top 3 export products
Crude Petroleum, Gold, Fertilizers
Trade balance
-$34B in net imports

Source: Istanbul Africa Trade Company, Africa Economic Report (2019). Figures as published, reflecting data to 2017.

Turkey's exports to this market

Source: Istanbul Africa Trade Company, Africa Economic Report. Figures as published.

2008

$1,492 million

Top 10 products account for 38% of the total.

2008
ProductShare of total
Semi-Finished Iron11.9%
Gold7.2%
Cars3.9%
Synthetic Filament Tow2.9%
Rubber Tires2.2%
Raw Iron Bars2.2%
Vehicle Parts2.2%
Iron Blocks2.1%
Refined Petroleum1.7%
Heavy Pure Woven Cotton1.7%

2017

$2,294 million

Top 10 products account for 34.3% of the total.

2017
ProductShare of total
Refined Petroleum13.4%
Cars3.5%
Raw Iron Bars3.1%
Aluminium Housewares2.3%
Rubber Tires2.1%
Hot-Rolled Iron2.1%
Petroleum Gas2%
Carbonates2%
Iron Blocks2%
Electrical Transformers1.9%

Frequently asked questions

Egypt: what does Turkey export there?
In 2017, Turkey's exports to this market were valued at $2,294 million. The ten largest product groups made up 34.3% of that total, led by Refined Petroleum; Cars; Raw Iron Bars.
Egypt: who are its main trading partners?
The three largest import partners are China, Russia, Germany. The three largest export partners are United Arab Emirates, Italy, Turkey.
Egypt: what does the country import?
The three largest import products are Refined Petroleum; Petroleum Gas; Wheat. The three largest export products are Crude Petroleum; Gold; Fertilizers.
Egypt: how big is the economy?
Population 98 million, GDP $235 billion, and $2,413 per person. The Human Development Index is 0.696.
Egypt: does it run a trade surplus or a deficit?
The trade balance is -$34B in net imports.

Related reading

Other country profiles

Reviewed by Burak Unal, Director of African Markets

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