Natural Resources

Natural Resources
Although ancient Egyptians made copious use of copper, silver, and
gold, the country today has few mineral resources that can be easily
developed. Limestone and sand are abundant and vital to construction
throughout Egypt’s history. Some iron deposits are found near Aswan,
and a large coal deposit has been found in northern Sinai. Phosphates,
salt, and gypsum exist. The main natural resources, as in many other
Middle Eastern countries, are petroleum and natural gas. Egypt’s main
oil fi elds are in the Western Desert and lands surrounding the Gulf of
Suez. Egypt is currently a net exporter of oil, but it is likely to become
a net importer by 2010 unless new fi elds are discovered. Natural gas,
found near Suez, has become Egypt’s major earner of foreign exchange.
Egyptians hope further exploration will uncover other sources of mineral
wealth.
Economy
For most of Egypt’s history the mainstay of the economy was agriculture,
especially growing and exporting cereal grains around the
Mediterranean basin. Egypt made the transition from a subsistencebased
economy to a cash crop economy long before most other Middle
Eastern countries. By the late 19th century long-staple (Egyptian)
cotton had become its leading export, followed by tobacco, indigo,
and sugar. Due to the rising use of synthetic fi bers worldwide, cotton
exports dwindled in the late 20th century. As Egypt’s arable land has
decreased in relation to its total population, other crops have overtaken
cotton, notably maize, rice, vegetables, and fruit.

More recently, the Egyptian economy has shifted away from agriculture
toward industry and services. The Egyptian government has tried
to promote manufacturing. However, industries such as construction,
transportation, and extraction of oil, natural gas, and minerals currently
add more to the gross domestic product. International tourism
is a service industry that employs millions of Egyptians, as is fi tting in
a culture that places great value on hospitality. But it is often disrupted
by political instability and terrorism. The country remains a leader in
education, fi nance, and culture in the Arab world.