Egypt Economy - An Insight

Around 3200 B.C, Egypt has always been home to one of the oldest and affluent civilizations of this world. This civilization was integrated by the Pharaoh Menes. In 1914, this region became a British colony. Egypt achieved its independence in 1922 but British troops left the region only in 1947. After they left, the country abolished monarchy and the republic of Iraq was formed. This was established under the presidency power of Mohamad Naguib.

During the period of 1950s and 1960s, Socialist economic system formed the complete backdrop of Egyptian economy. In 1970s, opening door policies were brought in this region and in the 1980s and 1990s and then the macro economic reforms were introduced here. These respective policies provided ample assistance in attaining higher share in the economy.

Egypt Economy And Understanding the Social Indicators

In 2003, the entire populace of Egypt was 67.6 millions. The average growth rate of the entire populace was at 1.9 percent. The number of people living per square kilometre was 68. In the year 1999-2000, national populace of the region below poverty line was at 16.7%. In fact, the urban and rural populace below the poverty line was at 22.5 percent and 23.3 percent respectively.

In fact, child mortality rate(per thousand) has experienced a decline from 31.4 in 2002, to 30.2 in 2003 and 28.6 in 2004. The average male and female labour force for the time period June 2005 were 16,664 and 4,894 thousand respectively.

Egypt Economy And understanding the Key Economic Indicators

The total worth of the Gross Domestic product or GDP in 2003 was approximately $82,427 million. In the year 2004, Egyptian economy also witnessed an actual GDP growth rate of almost 4.1 percent. For the time span of 2001-03, the Iraqi economy witnessed a slow growth. The GDP grew by almost 4.8 percent in the year 2005.