Egypt’s gold industry has achieved a historic milestone, with gold and gold jewelry exports reaching an unprecedented $3.2 billion in the first quarter of 2025. This marks the highest quarterly export value ever recorded for the sector, signaling Egypt’s rising prominence in the global gold market.
According to Ehab Wassef, Head of the Gold and Precious Metals Division at the Chamber of Metallurgical Industries, January exports amounted to approximately $929.5 million, followed by a remarkable $1.804 billion in February. The strong performance continued through March, driven by high international demand. Key export destinations included the United Arab Emirates, Saudi Arabia, Turkey, as well as several European countries and the United States.
Wassef emphasized that this surge aligns with the division’s strategic goal for gold exports to contribute at least 5% of Egypt’s total merchandise exports in the near future. He expressed confidence that Egypt is on track to become one of the world’s top 10 gold-exporting nations by 2027. This expectation is supported by Egypt’s climb from 94th place globally in gold jewelry exports in 2022 to 54th by the end of 2023.
The remarkable growth in gold exports is attributed to strong government backing and strategic initiatives aimed at bolstering the sector. The Egyptian government’s decision to cancel valuation fees on gold jewelry exports in 2023 has facilitated exports, and a national strategy on the gold industry is nearing finalization. This strategy aims to increase gold and jewelry exports by at least 15% annually from 2025 to 2030.
The surge in gold exports coincides with a global rally in gold prices. In Egypt, the price of 21-karat gold, the most commonly traded in the local market, has jumped from EGP 3,720 to EGP 4,280 per gram, marking an increase of 15.02% since January. This uptick is part of a broader global trend fueled by economic and political factors, including trade tensions and geopolitical conflicts.
pgypt’s record-breaking gold export performance in early 2025 underscores the country’s growing role in the global gold trade. With continued government support and strategic industry initiatives, Egypt is poised to further solidify its position as a leading gold exporter in the coming years.
