Egypt gold exports surge by 194% to $3.93 bln in H1 2025
Wassef, citing a report by the Gold and Precious Metals Division, stated that the UAE remained Egypt's top export destination, accounting for $3.2 billion in jewellery, gemstones, and gold imports during the first six months of 2025.
Switzerland followed with $705 million, trailed by Canada ($6.3 million) and Turkey ($5.3 million), and then Lebanon, Italy, and Saudi Arabia.
'This historic jump reflects a major shift in the local gold industry and its fast adaptation to global dynamics,' Wassef added.
He attributed the unprecedented growth to three key drivers. First, the soaring global demand for gold, amid rising geopolitical instability and trade tensions, has prompted global markets to view gold as a haven.
Second, improved design and manufacturing standards helped Egyptian products compete with international luxury brands in key markets.
Third, the division participates in proactive global marketing efforts, with a focus on major trade fairs and exhibitions worldwide.
Egypt targets top 10 global gold exporters' list by 2027
Wassef also noted that Egypt's ranking in global gold jewellery exports jumped from 94th in 2022 to 54th in 2023, with ambitions to break into the top 10 by 2027.
He credited strong government support, particularly from the Ministries of Supply, Industry, Investment, and the Central Bank of Egypt (CBE), for enabling the industry's breakout performance.
The CBE's decision to extend the repatriation period for export proceeds to 75 days also helped exporters by easing liquidity pressures and allowing greater flexibility in fulfilling foreign orders, he explained.
Global and regional geopolitical tensions and Trump's new tariffs have driven gold prices to significant surges, which caused a local increase of gold prices by about 24 percent since the beginning of the year until mid-May 2025.
Experts suggest that the upward trajectory in gold prices is likely to persist throughout 2025, as the precious metal continues to solidify its status as a safe-haven asset.
With ongoing geopolitical unrest, trade tensions, and mounting economic pressures, global investors are turning to gold as a reliable store of value. This trend continues to fuel Egypt's record-breaking export performance.
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