Egypt’s gold exports hit a record high of $3.2 billion in the first quarter of 2025, marking a significant growth for the country’s jewelry industry. This surge was confirmed by Ihab Wasif, Head of the Gold and Precious Metals Division at the Federation of Egyptian Industries.
Wasif attributed the strong performance to three key factors: increasing global demand for gold, improvements in local jewelry design and manufacturing, and Egypt’s greater involvement in international trade shows and exhibitions.
He explained that the rise in gold exports is part of a global trend where gold is seen as a safe investment, especially amid growing geopolitical tensions. This global shift has created new opportunities for Egyptian gold, particularly in markets looking for both quality and dependability.
The Egyptian jewelry industry, according to Wasif, has seen major improvements in design and craftsmanship, allowing it to compete with international standards. This has opened up markets such as Saudi Arabia, the UAE, Europe, and North America for Egyptian exports.
He also highlighted the importance of marketing efforts. Increased participation in international exhibitions has helped raise Egypt’s gold industry profile, boosting foreign buyers’ confidence in Egyptian products.
In the first quarter, Egypt’s gold exports grew steadily, reaching $929.5 million in January, $1.804 billion in February, and maintaining momentum in March. The UAE, Saudi Arabia, and Turkey were the leading importers, with growing exports to Europe and the United States.
Wasif pointed out that these results align with the Gold and Precious Metals Division’s commitment to President Abdel Fattah Al-Sisi to reach record export targets. He credited strong government support, particularly from the Ministries of Supply, Industry, and Investment, the Central Bank, and the Assay and Weights Authority, for helping achieve these milestones.
Looking ahead, Egypt plans to be among the world’s top 10 gold-exporting countries by 2027. Wasif mentioned that Egypt’s ranking in global jewelry exports has improved from 94th in 2022 to 54th in 2023, with further growth expected in the coming years.
The Central Bank of Egypt’s decision to extend the payment period for export proceeds to 75 days has also played a significant role in the industry’s recent growth. This move has given exporters the flexibility needed to navigate foreign markets more effectively.
The Gold and Precious Metals Division now plans to request a return to the previous legal framework that allowed for a 180-day payment period. Wasif believes this change would further strengthen Egypt’s export performance and global competitiveness.
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