Boston, MA -- (ReleaseWire) -- 03/13/2014 -- Political uncertainty will continue to affect the Egyptian economy in 2014 as the country continues through its rocky transitional period towards democracy. At the time of writing, in January 2014, violence has continued to wrack the country in the wake of the ouster of democratically elected President Morsi in July 2013, and a curfew remains in place. The uncertainty will continue to hamper trade and economic growth over the year.
The presence of the Suez Canal in Egyptian territory provides an important source of income in fees and associated businesses to the Egyptian economy; those ports expected to see strongest growth in 2014 are those located near the canal, such as East Port Said. However, should instability bring danger to these ports then these two could see volumes affected.
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Headline Industry Data
- 2014 total tonnage throughput at El Dekheila is forecast to grow by 1.8% to 25.89mn tonnes, and to average 2.9% per annum to 2018.
- 2014 East Port Said container throughput growth forecast at 3.6% to reach 3.09mn twenty-foot equivalent units (TEUs), and to average 5.6% to 2018.
- 2014 Egyptian trade forecast to grow by 4.0%, and to average growth of 6.1% over the medium term.
Key Industry Trends
Transportation Ministry To Launch Tender For Six River Ports: Egypt's Ministry of Transportation is likely to launch a tender for six river ports in 2014, according to Transportation Minister Ibrahim al- Demeiry. These projects require investments of around US$180mn. The ministry has completed the preparation of the technical specifications booklet for the tender.
Adabiya Port Project Highlights Suez Upgrade Drive: Development at the port of Adabiya demonstrates the Egyptian government's commitment to modernising its maritime sector. The Suez Canal's role in the global shipping industry is pivotal, and investment in the port will ensure it remains competitive.
Suez Canal Attracts New Customers: Continued delays to the expansion of the Panama Canal, through the widening of its locks, has led to more ships choosing to use the Suez Canal instead, benefiting from the increased economies of scale offered by using the other waterway as an alternative route.
Key Risks to Outlook
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