International and Local Commercial Developments
In 2009, the economic facts show a decrease rate in the real international economy
due to the current international changes "global financial crisis", the rate decreased
from 3.9% in 2006 to 3.7% in 2007, which is less than 2006.In 2008, the decrease
rate reached 2%, in 2009 the rate of the international economy decreased to 2.7%.
In spite of the uneven growth rates between the States, the general trend is decreasing
the rates of all the States in 2009.
|
Globe
|
1.9
|
2.7
|
4
|
3.4
|
3.9
|
3.7
|
2
|
-2.7
|
|
Developed countries
|
1.3
|
1.9
|
3
|
2.4
|
2.8
|
2.5
|
0.7
|
-4.1
|
|
Emerging countries
|
5
|
7.2
|
7.6
|
6.6
|
7.5
|
8.4
|
5.4
|
-6.2
|
|
Developing countries
|
3.9
|
5.2
|
7
|
6.5
|
7.2
|
7.3
|
5.4
|
1.3
|
Source: UNCTAD
In 2009, developed countries recorded a decrease rate in the international economy
from 2.5% in 2007 to 4.1%, while emerging countries recorded from 8.4% to 6.2% similarly
in developing countries from 7.3% to 1.3%
This rate decrease is due to a number of reasons, including the following:
- (1) Housing sector crisis and pressure on credit and mortgage.
- (2) The weak economic performance of the United States of America.
- (3) Increasing of the domestic consumption demand.
- (4) Deterioration of the value of the US dollar compared to other foreign currencies.
- (5) Successive rise in the prices of petroleum and base metals.
- (6) Increase of the general imbalance of the international expenditures.
International Commerce:
The decrease rate of the international commerce came along with the decrease rate
of the global real economic rates, which followed the end of the upward trend of
the business cycle (2001-2006) that ended in 2008 by "global financial crisis",
the international trade of goods and services recorded on an international level
a growth rate up to 8%, which is more than double the growth rate of the international
economy. However, it is less than the growth rate achieved during (2004-2006); the
industrial countries represent 45% of the total international commerce, while East
and South Eastern Asia countries represent 40%.
The Egyptian Economy:
In 2009, the Egyptian economy achieved a decreasing rate (4.7%) compared to last
year (7.2%) due to global financial crisis , the breaking of the increasing economic
growth line witnessed in Egypt during the three years prior to the eruption of the
crisis was the most serious effect of the global economic crisis on Egypt. Where
the rate of GDP decreased from 7% in the last two years to 4.7% in the crisis year,
despite that the decrease rate was less than expected at the beginning of the crisis
and less than the aimed for within the frame of the sixth five year plan for economic
development (7.5%- 8%).The Egyptian maritime transport was able to face the repercussions
of the crisis, the future expectations predict a successive increase in the world
trade and therefore the maritime transport traffic.
