Egypt: Exporter Guide
Egypt’s population of 97 million makes it the Arab world’s most populous country; its population is growing at 2.45 percent, adding 2 million Egyptian consumers yearly. On November 3, 2016, the Central Bank of Egypt floated the Egyptian pound, causing it to shed eventually 60 percent of its value. Consumer behavior has changed as retail prices of goods and services have increased. Consumers are turning to shopping at hyper- and supermarkets, which offer better deals and most value for money. The U.S.-Egypt bilateral food and agricultural products trade in calendar year (CY) 2017 (January-October) at $763 million is down $13 million or off by 1.7 percent compared to CY 2016. Egypt is imposing stricter rules on importers; it aims to reduce imports by 25 percent to save foreign currency reserves and protect local industries.