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Unlocking Egypt's Economic Potential: Insights from the Global Economic Diversification Index (GEDI) and Possible Pathways

In: Proceedings of the Global Conference on Economic Diversification 2024

Author

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  • Sahar Mohamed Aboud

    (Institute of National Planning)

Abstract

To break away from the middle income trap The Egyptian economy needs to foster its path towards diversification to high productivity activities. Building upon the accumulated reliable data-driven policy instruments, particularly Global Economic Diversification Index for the period 2000–2022, this study aims to examine the performance of economic diversification for the Egyptian economy. The analysis demonstrates a robust and significant correlation between the GEDI and ECI results, both on a global scale and within Egypt. This consistency underscores the common goal among developing nations to achieve economic diversification, thereby enhancing complexity. However, the study also reveals that Egypt remains a low-diversified, low-complexity economy, highlighting the challenges it faces in escaping the middle-income trap due to difficulties in advancing towards high-productivity sectors. To foster economic diversification and enhance complexity, Egypt should implement a sustained and clear strategy supported by a flexible framework for economic diversification and structural transformation. This strategy should be complemented by industrial policies, incentives for private investment in R&D, and ongoing reforms to improve the business environment. To sum up, accumulation of comprehensive polices and supporting framework to Improving drivers of both total and sector productivity is key.

Suggested Citation

  • Sahar Mohamed Aboud, 2026. "Unlocking Egypt's Economic Potential: Insights from the Global Economic Diversification Index (GEDI) and Possible Pathways," Springer Proceedings in Business and Economics, in: Keertana Subramani & Hamid Saeed & Fadi Salem (ed.), Proceedings of the Global Conference on Economic Diversification 2024, chapter 0, pages 149-169, Springer.
    • Handle: RePEc:spr:prbchp:978-981-95-2022-0_7
    DOI: 10.1007/978-981-95-2022-0_7
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