Egypt’s exports to BRICS countries climbed to $9.4 billion in 2024, marking a 10.6% rise from the previous year. Saudi Arabia emerged as the leading importer, accounting for $3.4 billion of Egyptian exports, followed by the UAE, Brazil, Russia, India, China, Indonesia, South Africa, Ethiopia, and Iran. Top Egyptian exports included pearls, precious stones, and jewelry totaling $2.1 billion, alongside fruits and vegetables.
On the import front, Egypt sourced $41.4 billion worth of goods from BRICS members, a 21.8% increase from 2023. China was the dominant exporter to Egypt, with goods valued at $15.5 billion, followed by Saudi Arabia and Russia. Key imports consisted of electrical machinery, mineral fuels, and grains, highlighting Egypt’s diverse import needs.
This burgeoning trade relationship is complemented by significant investments from BRICS nations into Egypt, amounting to $40.6 billion during the fiscal year 2023/2024. The UAE led with a substantial $38.9 billion investment, followed by Saudi Arabia and China. Conversely, Egyptian investments in BRICS nations totaled $1.7 billion, indicating a growing reciprocal economic engagement.
Remittances from Egyptian expatriates in BRICS countries stood at $9.8 billion, with Saudi Arabia contributing the lion’s share of $8 billion. In contrast, remittances from BRICS nationals working in Egypt amounted to $76.2 million, showcasing a modest decline from the previous year. The UAE and India were prominent contributors in this category.
The growing economic partnership between Egypt and BRICS not only reflects shared strategic interests but also paves the way for broader economic collaboration in sectors such as technology, infrastructure, and sustainable development. As Egypt continues to strengthen its footprint within this dynamic bloc, the future promises expanded opportunities for mutual growth and prosperity.
