Report: Egypt’s telecom sector exports reach $1,4 billion in 2014

Egypt's telecom sector has witnessed a significant growth over the last seven years, the ministry of Communications and Information Technology (MCIT) Yearbook 2014  showed .

The number of companies operating in the information and communications technology (ICT) is 6117 companies In October 2014 compared to 2348 companies at the end of 2007.

The sector's total issued capital came to LE46.95billion (US $6.39billion) compared to 35.75billion at the end of 2007 .

The latest value for ICT service exports  in Egypt was $1,4 billion as of October 2014 compared to $450 million .

The ICT Sector contribution to the treasury reached LE 13.25 billion in October 2014 compared to 11.14 billion at the end of 2007 .

The number of mobile subscribers increased by 214.37 percent from 30.3 million at the end of 2007 to 94.59 million In October 2014, driven by the growth of low cost pre-paid subscriptions.

This brings the mobile penetration rate in the country to some 110.4 percent, compared to nearly 40.68 percent , with growth 69.7 percent .

Meanwhile, the number of Internet subscribers rose by 375.75 percent  in October of 2014 to 46.96 million from 9.87 million at the end of 2007.

This brings the Internet penetration rate in the country to some 54.8percent, compared to 13.57 percent , with growth rate 41.23 percent .

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