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FOREIGN TRADE
The revival
of the Egyptian Economy has solely relied upon the trade of the country.
Commodity
exports has reached $ 13.8 billion for the year 2005 which is 31.4%
increase over the year 2003.The value of commodity imports have increased to $
24.2 billion in 2004.The main exportable items were crude oil and petroleum
products, cotton and textiles, agricultural goods and raw cottons etc.
Import items include machinery and transport equipment, life
stock and food beverages etc.
Top trading partners of Egypt are Italy, US, Germany, Japan
and South Korea.
The trade balance have widened from $ 7.8 billion in 2004 to
$ 1.4 billion by 33.33%.
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CONSUMER PRICE INDEX
The consumer price index have increased have increased from
122.1 in January 2004 to 136.4 in September 2005.The increased in price is
marked through an increase in price of communications services and rising
energy prices.
CONCLUSION
The opening door policies by the economy have really
increased the position of the Economy. Egypt’s long-term steps for liberalizing
the domestic business environment will positively act in reducing the present
problem of unemployment in the recent future.
Egypt is presently the first country being offered the full
membership of the world body.
Source – Information and decision support center, Egypt, IMF, World Bank
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