You are here -allRefer - Reference - Country Study & Country Guide - Egypt >

allRefer Reference and Encyclopedia Resource

allRefer    
allRefer
   


-- Country Study & Guide --     

 

Egypt

 
Country Guide
Afghanistan
Albania
Algeria
Angola
Armenia
Austria
Azerbaijan
Bahrain
Bangladesh
Belarus
Belize
Bhutan
Bolivia
Brazil
Bulgaria
Cambodia
Chad
Chile
China
Colombia
Caribbean Islands
Comoros
Cyprus
Czechoslovakia
Dominican Republic
Ecuador
Egypt
El Salvador
Estonia
Ethiopia
Finland
Georgia
Germany
Germany (East)
Ghana
Guyana
Haiti
Honduras
Hungary
India
Indonesia
Iran
Iraq
Israel
Cote d'Ivoire
Japan
Jordan
Kazakhstan
Kuwait
Kyrgyzstan
Latvia
Laos
Lebanon
Libya
Lithuania
Macau
Madagascar
Maldives
Mauritania
Mauritius
Mexico
Moldova
Mongolia
Nepal
Nicaragua
Nigeria
North Korea
Oman
Pakistan
Panama
Paraguay
Peru
Philippines
Poland
Portugal
Qatar
Romania
Russia
Saudi Arabia
Seychelles
Singapore
Somalia
South Africa
South Korea
Soviet Union [USSR]
Spain
Sri Lanka
Sudan
Syria
Tajikistan
Thailand
Turkmenistan
Turkey
Uganda
United Arab Emirates
Uruguay
Uzbekistan
Venezuela
Vietnam
Yugoslavia
Zaire

Egypt

Trade Partners

The revolutionary regime shifted Egypt not only politically but also economically toward the Soviet Union and Eastern Europe. Prior to 1952, Egypt's major trading partner was Britain. By 1970 the share of Egypt's exports to the Soviet Union and Eastern Europe had risen to about 60 percent of the total, climbing from about 20 percent in 1955. The share of imports from the Soviet Union and Eastern Europe during the same period increased from 7 percent to about 33 percent. Nevertheless, Western industrialized countries continued to be the major source of imports, especially of food, which Eastern Europe could not furnish. In general, trade with Eastern Europe showed a balance of payments surplus in favor of Egypt, but this surplus may have resulted partly from politically motivated subsidies.

Ending the concentration of trade with Eastern Europe was an integral element of Sadat's westward reorientation of the country. The consolidation of trade with the Organization of Economic Cooperation and Development (OECD) continued apace under Mubarak. The United States emerged as Egypt's largest source of imports, in part because its aid to Egypt was conditioned on Egypt's purchasing American goods and services. Between 1982 and 1986, Egypt obtained from the United States an average of 16 percent of its total imports. On the average, OECD nations supplied 46 percent of imports and purchased 55 percent of Egypt's exports by 1986.

Put differently, Egyptian foreign trade was concentrated with the industrialized countries. Third World and Arab nations were minor trading partners. Some analysts argued, however, that if Egypt wished to attract foreign industrial investment it would need to obtain new markets, especially in the Arab region. The Arab market had been closed to Egypt because of Egypt's 1979 peace treaty with Israel, but the reentry of Egypt into the Arab fold in the mid-1980s might further trade with the Arab nations. A regional economic Arab Cooperation Council including Egypt, Iraq, Jordan, and the Yemen Arab Republic (North Yemen) was formed in February 1989. It set modest goals, and in the early 1990s it was unclear how this accord would fare, given the failed record of Arab integration schemes and the politicized nature of the bloc, which, for example, excluded Syria, a natural partner in regional economic cooperation.

Data as of December 1990

Egypt - TABLE OF CONTENTS

  • The Economy

  • Go Up - Top of Page

    Make allRefer Reference your HomepageAdd allRefer Reference to your FavoritesGo to Top of PagePrint this PageSend this Page to a Friend


    Information Courtesy: The Library of Congress - Country Studies


    Content on this web site is provided for informational purposes only. We accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities.

     

     

     
     


    About Us | Contact Us | Terms of Use | Privacy | Links Directory
    Link to allRefer | Add allRefer Search to your site

    allRefer
    All Rights reserved. Site best viewed in 800 x 600 resolution.