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Egypt Industry
They extracted, smelted and worked metals such as copper, silver and gold; made farming tools, war equipment and pottery; built ships, made clothes, extracted oils and worked precious stones.
The 19th century saw the revival of Egypt Industry at the hands of Mohammad Ali The Great. In 1930, the Misr Bank, established in 1920 and funded entirely by Egyptians, launched a campaign to advance local Egyp industry, which succeeded in setting up an industrial base. The July 1952 Revolution gave birth to several leading Egypt industry projects; e.g. the iron and steel complex; and mining, oil, chemical, textiles and food processing industries. With the beginning of the 21st century, Egypt industry took upon itself to achieve a quality shift towards free market economy. The need to improve the competitiveness of local products and to modernize Egyptian industries was therefore considered essential.
Industry is high on the list of sectors contributing to the country's GDP. Its contribution in 2005/06 was EGP275.3 billion (17.5 per cent of GDP), with the Private Sector providing EGP223.9 billion (81.3 per cent); the Public Sector EGP51.5 billion (18.7 per cent). Advantages of Industry in Egypt:
Industrial Modernization Program (IMP)
In addition to creating more work opportunities, the program proposes to multiply State revenues by increasing exports. The IMP is expected to cost a total of €437 million; of which the EU contributes €250 million (59 per cent). The Industrial Modernization Center (IMC) has been in charge of IMP implementation since 2005. To date, the IMP has successfully modernized 3400 industrial facilities. Meanwhile, a sum of €145.6 million has been allocated to fund IMP activities in 2006/07; the goal is to bring the number of facilities benefiting from IMP to 7300. Major Industries There are 8 major industries in Egypt:
Second in place were foodstuff, beverage and tobacco (33 per cent); followed by chemical industries (15 per cent), textiles, ready-made garments and leather (10 per cent). In all, these fours sectors have contributed 78 per cent of the total value of industrial production, absorbed 58 per cent of the sector's investments and employed 79 per cent of the country's labor force. Industrial production quantities in 2005/06 have risen in several industries:
Exports
Non-petroleum exports have increased from $2.3 billion in 2001 to $4.2 billion in 2005.
Overall Egyptian exports until May 2006 accounted for $8.5 billion at the growth rate of 45 per cent of the target figure for 2005/06. Foodstuff exports in 2005/06 are up by 49 per cent (EGP3127 billion) compared to the figures accounted for in the same period of 2004/05. Agricultural exports have risen by 54 per cent over the past 5 years, with rice potatoes and oranges constituting 61 per cent of the country's agricultural exports. The US, Italy and Spain occupy the first three places on the list of Egypt's export-partners. Meanwhile, the EU is Egypt's major group trade partner (25 per cent), followed by Asia (18 per cent), Arab countries (17 per cent) and North America (9.5 per cent).
From Egypt Industry return to Egypt Economy
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Egypt Industry was first known to the people of Ancient Egypt.
Added to this is the necessity of providing a climate suitable for industrial and trade activities and for encouraging the Private Sector to carry the burden of economic development in Egypt industry.
Under the Egyptian-EU Association Agreement, Egypt is currently implementing an industrial modernization program, which seeks to raise the competitive edge of local products as well as help the Egyptian industrial sector integrate into global economy.
Figures have shown a rise in engineering, electronic and electricity industries, which occupied first place in 2005, and accounted for 30 per cent of the total value of industrial production.
Industrial exports have multiplied in terms of value from $4.2 billion in 2001 to $10.7 billion in 2005 at a growth rate of 156 per cent. Petroleum exports have contributed 49 per cent of the total export figure in 2005.
