Egypt's Trade with BRICS Countries Surges to $50.8 Billion in 2024, Led by Strong Ties with China, Gulf States
Trade between Egypt and the BRICS bloc reached $50.8 billion in 2024, up from $42.5 billion the previous year, reflecting a robust 19.5% growth, according to figures released on Sunday by Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS).
Egypt's exports to BRICS nations climbed 10.6% to \$9.4 billion. The Gulf region emerged as a major market for Egyptian goods, with Saudi Arabia and the United Arab Emirates together accounting for over 70% of Egypt's total exports to the group. Non-traditional partners such as Brazil and Russia also showed increasing demand for Egyptian products, particularly in agricultural and mineral sectors.
Key drivers of Egypt's export growth included higher shipments of precious stones and jewelry, which alone brought in $2.1 billion, as well as a surge in fruit and vegetable exports that reached $1.4 billion amid rising global food demand.
Egypt's imports from BRICS countries grew at an even faster pace, rising 21.8% to $41.4 billion in 2024. China maintained its position as Egypt's dominant trade partner, supplying goods worth $15.5 billion, nearly three times the value of imports from Saudi Arabia, the next biggest source.
Energy products, industrial machinery, and agricultural commodities were among Egypt's most significant imports from BRICS nations, underlining the diverse nature of trade flows. Russia and Brazil continued to be critical suppliers of grains and food commodities to the Egyptian market.
The figures underscore the growing economic integration between Egypt and the BRICS economies, particularly as Cairo looks to deepen its participation in global trade networks and diversify its economic partnerships.
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