Oil Consumption
Oil Production: 720,000 bbl/day (2012 est.)
Oil Consumption: 46.17 billion cu m (2010 est.)
Oil production is high in Egypt. This leads to a loss of habitat due to industrialization taking place. In addition, the air quality has grown increasingly worse as Egypt becomes a larger part of oil exportation. Water pollution has also been an increased worry for this country as
a result of oil production. The country has been focusing largely on oil production and less on living conditions and sustaining habitats.
Up until 1970, Egypt had a majorly nationalized economy as result of President Nasser's term. Since the passing of Nasser, every leader since has steered the nation into a more capitalist economy with significant government intervention. Capitalism refers to a system of trade and industry are privately owned and operated for profit.
Egypt major economic indicators include unemployment rates, division of labor, and poverty rates. Since 2010, Egypt's unemployment rate has soared, climbing from a high 9% to a shocking 13.1%. Egypt has over two times more unemployment in the job market than the United States, as of 2014. Egypt's record unemployment rates are a result of poor treatment in workers. Workers simply quit their jobs instead of dealing with bad jobs. Additionally, division of labor can be revealing of Egypt's economic stance. Women in Egypt are paid less then male workers. Women workers typically carry a large burden of financial issues yet are not usually successful in their careers. Women in Egypt are worse off then the United States, but United States' women also carry similar burdens as Egyptian women. Poverty rates in Egypt are extremely high. Over 25% of Egyptian people are living in poverty and, consequently, with food insecurity. Some of the poorest families experience chronic malnutrition. This is a result of Egypt's increased unemployment rates. Egypt has been going through a series of ups and downs as it experiences political change.
Egypt's gross domestic product for 2013 was $272 billion USD. Egypt is much better off then nearby neighbors, such as Nigeria and Israel. Egypt's GDP has been lowering as a result of political change. Egypt was promoted from the low income category to the lower middle income category in 2006.
Oil Production: 720,000 bbl/day (2012 est.)
Oil Consumption: 46.17 billion cu m (2010 est.)
Oil production is high in Egypt. This leads to a loss of habitat due to industrialization taking place. In addition, the air quality has grown increasingly worse as Egypt becomes a larger part of oil exportation. Water pollution has also been an increased worry for this country as
a result of oil production. The country has been focusing largely on oil production and less on living conditions and sustaining habitats.
Up until 1970, Egypt had a majorly nationalized economy as result of President Nasser's term. Since the passing of Nasser, every leader since has steered the nation into a more capitalist economy with significant government intervention. Capitalism refers to a system of trade and industry are privately owned and operated for profit.
Egypt major economic indicators include unemployment rates, division of labor, and poverty rates. Since 2010, Egypt's unemployment rate has soared, climbing from a high 9% to a shocking 13.1%. Egypt has over two times more unemployment in the job market than the United States, as of 2014. Egypt's record unemployment rates are a result of poor treatment in workers. Workers simply quit their jobs instead of dealing with bad jobs. Additionally, division of labor can be revealing of Egypt's economic stance. Women in Egypt are paid less then male workers. Women workers typically carry a large burden of financial issues yet are not usually successful in their careers. Women in Egypt are worse off then the United States, but United States' women also carry similar burdens as Egyptian women. Poverty rates in Egypt are extremely high. Over 25% of Egyptian people are living in poverty and, consequently, with food insecurity. Some of the poorest families experience chronic malnutrition. This is a result of Egypt's increased unemployment rates. Egypt has been going through a series of ups and downs as it experiences political change.
Egypt's gross domestic product for 2013 was $272 billion USD. Egypt is much better off then nearby neighbors, such as Nigeria and Israel. Egypt's GDP has been lowering as a result of political change. Egypt was promoted from the low income category to the lower middle income category in 2006.