Comparison on economic performance of Egypt and USA

History/Background
Egypt is the 29th biggest country in the world, covering a total area of 1,002,450 sq. km. It is a country in the Middle East which linked with the northeast Africa, on the Mediterranean Sea, at a crossroad between Africa, Asia and Europe. It is bordered to the east by the Red Sea, Palestine and Israel to the north-east, Libya to the west, and Sudan to the south. The country is divided into 4 main geological areas which is the Nile Valley and Delta, Western Desert, Eastern Desert, and Sinai Peninsula.

On the other hand, United States is the 4th biggest country in the world. The U.S. is a country of 50 states covering a vast swath of North America, with Alaska in the extreme Northwest and Hawaii extending the nation’s presence into the Pacific Ocean. Major cities include New York, a global finance and culture center, and Washington, DC, the capital, both on the Atlantic Coast; Los Angeles, famed for filmmaking, on the Pacific Coast; and the Midwestern metropolis Chicago.

Population
The population of Egypt is estimated at 85 million as of October 2015. Egypt's population is equivalent to 1.16% of the total world population (7.3 billion people). Egypt ranks number 15 in the list of countries by population.

While the total population in United States is estimated at 325.8 million people as of October 2015 and it represent 4.46% of the total world population which arguably means that one person in every 22 people on the planet is a resident of United States. The U.S. was ranked as the 3rd largest population in the world.

The table below shows the population of Egypt and United States from 2000 to 2015 (estimated). It shows that from 2000 to 2005, there was an increase in the Egypt’s population growth from 7.50% to 7.80%. It continue to increase to 8.07% in 2010, and there is a sudden drop to 6.37% in 2014. For 2015, the estimated population growth will be 1.56%. On the contrary, the population growth of the United States is decreasing over the past 14 years from 2000 to 2014, which is from 5.82% in 2000 to 3.20% in 2014, and the estimated population growth will be 0.78% in 2015.

Population of Egypt and United States (2015 and historical) Year | Egypt’s Population | Egypt’s Population Growth (%) | United States’ Population | United States’ Population Growth (%) | 2015* | 84,705,681 | 1.56 | 325,127,634 | 0.78 | 2014 | 83,386,739 | 6.37 | 322,583,006 | 3.20 | 2010 | 78,075,705 | 8.07 | 312,247,116 | 4.51 | 2005 | 71,777,678 | 7.80 | 298,165,797 | 4.55 | 2000 | 66,136,590 | 7.50 | 284,594,395 | 5.82 |
*Estimated
(Source: www.Worldometers.info)

Economics Egypt is the second largest economy in the Arab world. The Gross Domestic Product (GDP) in Egypt was worth 286.54 billion US dollars in 2014 and an estimated of 324.267 US dollars in 2015. The GDP value of Egypt represents 0.38% of the world economy (75.3 trillion US dollars). Services are the most important sector of Egypt’s economy and account for around 47.5% of total GDP. Industry constitutes 30% of the output and the largest segments within this sector are manufacturing and extraction which contributes 15.5% and 13.5% respectively. Agriculture accounts for 14.5% of output and utilities and construction for around 7%.

Dissimilarly, the United States is the world’s largest economy. The GDP in the United States was worth 17.4 trillion US dollars in 2014 and an estimated of 18.3 trillion US dollars in 2015 which is 61 times more than Egypt. The GDP value of the United States represents 23.10% of the world economy. Likewise, services industry was the main sector contributes to the United States’ GDP which is 79.4%. But unlike Egypt, the United States’ GDP acquire only 1.1% is from agriculture sector. Another 19.5% of the GDP was come from the rest of the sectors such as manufacturing and transport industry.

In terms of GDP annual growth rate, Egypt has expanded 3% in the first quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in Egypt averaged 3.79% from 1992 until 2015, reaching an all-time high of 7.30% in the first quarter of 2008 and a record low of -4.30% in the first quarter of 2011. Moreover, the GDP annual growth rate of the United States has expanded 2.70% in the second quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in the United States averaged 3.23% from 1948 until 2015, reaching an all-time high of 13.40% in the fourth quarter of 1950 and a record low of -4.10% in the second quarter of 2009.

Comparison on GDP between Egypt and United States

(Source: http://www.tradingeconomics.com/egypt/gdp-growth-annual)