History of Egyptian Economy

Updated July 17, 2021

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History of Egyptian Economy essay

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Trade. It’s always been a crucial part of life, I mean we’ve literally been doing it forever. The Egyptians are only one of many that do trade; it started in the Predynastic Period (c.6000 – c.3150 BCE) and carried through Roman Egypt. The trade helped them fund pyramids and more monuments. By the first Dynasty of Egypt, Mesopotamia was the first set ally they could trade amongst. The Egyptians traded gold, papyrus, linen, and grain with Lebanon, Afghanistan, Africa, Punt, and Nubia. Egypt has access to the Red Sea, the Mediterranean Sea, and the Nile River. Since they had access to natural resources, they were a powerful and prosperous country in ancient history.

Egypt’s boats were thin and made out of Papyrus and Copper, which made them very unstable. Sometimes, their goods wouldn’t make it past the Nile. Then, Egypt found a way to make more big and supportive boats, and they were then able to trade across the Red and the Mediterranean Sea.

‘Egypt is the 62nd largest export economy in the world, and 72nd most complex economy according to the Economic Complexity Index.’ In 2017 Egypt exported 30.1 billion dollars, but over the years, exports have been decreasing at an annualized rate of -3.6. The most recent import for Egypt is wheat. Fellow import and export destinations include the UAE, Turkey, Saudi Arabia, China, and India are just a few. Egypt excels in trade because of the area they live in, and They have access to a lot of natural resources and oil. Oil is their main export, which helps their Economy because fuel is expensive. Egypt used to have a barter system, but ever since the Persian invasion (492 BC- 490 BC), it changed Egypt to a cash economy.

Egypt practices commercial agriculture. Farmers only grow crops to provide for the country, not just for themselves. Egypt excels in trades with Petroleum, natural gas, media, agriculture, and is a hotspot for tourism. Agriculture used to be the mainstay for the Egyptian Economy, but with rapid industrialization, it’s share has been reduced to 13 percent of GDP in 2010.

Moving onto Environmental issues, both air pollution and noise pollution increasingly get worse every day. Now I’m sure you’ve heard of air pollution, but have you heard of noise pollution? Noise pollution is what it sounds like Cairo (Egypt’s Capital) is unhealthily loud. Many people have medical problems because of it. Cairo is 90 decibels* and never goes below 70 decibels, that’s approximately the same noise level as being in a factory.

Urbanization is also one of many of their problems. Cairo is densely populated, it’s unsafe. Cairo is the most populated city in the Arab world. The high population makes everything chaotic, from lousy traffic to less healthcare because there are too many people to be taken care of at the same time.

Finally, Egypt was not as modern as it is today, do you ever wonder how they got to where they are now? Well, I’ll tell you. As you know, Egypt started as one of many countries; naive.

Nobody knew anything in ancient Egypt, so they had no prior knowledge of how things are supposed to get done. So like everybody else, Egypt invented their ways. We had no types of technology back then, but they still made it work (kind of). The first type of technology ever introduced to Egypt was the ramp and lever to benefit construction, rope trusses to support boats, and papyrus, a material made for paper. Technology has evolved all of us; back then, nobody knew what technology was, and we did pretty ok. Now, we’re so dependent because our ancestors have built a foundation off of tech.

Without technology, Egypt wouldn’t have supportive boats that carry exports and imports, they wouldn’t have upgraded military weapons, their crops are more stable and able to grow because of a new irrigation system. Places like Uganda, or Somalia are less developed countries, where people barely survive with as little as 2 dollars a day. They don’t have access to technology, so compare their world to Egypt’s world- I know you see a difference. In the end, we’ve all grown, and the evolution of humanity is incredible. Egypt is just one of many lucky countries to have this experience.

History of Egyptian Economy essay

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History of Egyptian Economy. (2021, Jul 17). Retrieved from https://samploon.com/history-of-egyptian-economy/


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