This growth highlights Egypt’s deepening economic relations with the group of major emerging economies, which includes China, India, Russia, Brazil, South Africa, Saudi Arabia, the UAE, Indonesia, Ethiopia, and Iran.
Egypt’s trade with BRICS countries continued to expand in 2024, with the total volume of trade reaching $50.8 billion, up from $42.5 billion in 2023, reflecting a significant increase of 19.5%, according to the latest figures from the Central Agency for Public Mobilization and Statistics (CAPMAS).
This growth highlights Egypt’s deepening economic relations with the group of major emerging economies, which includes China, India, Russia, Brazil, South Africa, Saudi Arabia, the UAE, Indonesia, Ethiopia, and Iran.
Egypt’s exports to BRICS nations grew to $9.4 billion in 2024, compared to $8.5 billion the previous year, marking a rise of 10.6%.
Saudi Arabia emerged as Egypt’s top export destination within the group, receiving Egyptian goods worth $3.4 billion, followed closely by the United Arab Emirates with $3.3 billion.
Brazil ranked third, with imports from Egypt reaching $854.4 million, followed by Russia, India, China, Indonesia, South Africa, Ethiopia, and Iran.
The main categories of Egyptian exports included pearls, precious stones, and jewelry valued at $2.1 billion, followed by vegetables and fruits worth $1.4 billion.
Other significant exports included electrical machinery and equipment, mineral fuels and oils, and iron and steel products.
On the import side, Egypt’s purchases from BRICS countries increased to $41.4 billion in 2024, up from $34 billion in 2023, reflecting a 21.8% growth.
China maintained its position as Egypt’s largest import partner within the group, with imports reaching $15.5 billion. Saudi Arabia followed with $7.9 billion, then Russia with $6 billion, and Brazil with $4.2 billion.
India, the UAE, Indonesia, South Africa, Ethiopia, and Iran made up the rest of Egypt’s key import sources from the BRICS alliance.
The main imported commodities included electrical machinery and devices worth $6.6 billion, mineral fuels and oils at $6.5 billion, and cereals at $4.3 billion.
Other notable imports were iron and steel products, plastics, organic chemicals, as well as vehicles and tractors.
In terms of investments, the financial ties between Egypt and BRICS nations also strengthened.
The total value of investments from BRICS countries in Egypt reached $40.6 billion during the 2023/2024 fiscal year, while Egyptian investments in BRICS member states amounted to $1.7 billion during the same period.
The UAE was by far the largest investor in Egypt, with investments totaling $38.9 billion.
Saudi Arabia came next with $775.5 million, followed by China at $629.5 million. Smaller but still notable investments came from South Africa, Russia, and India.
Additionally, remittances from Egyptians working in BRICS countries recorded a slight decline.
The value of remittances stood at $9.8 billion in the 2023/2024 fiscal year, down from $10.4 billion the year before, reflecting a modest decrease amid broader global economic fluctuations.
