Egypt’s jewellery and precious stones exports increased by 118% from January to July to reach $1.526 billion, compared with $ 700 million in 2023, according to the Consultative Committee for the Materials, Refractories and Metallurgical Industries (ECBM) monthly report.
The report shows the United Arab Emirates topping the list in jewellery and diamond exports, with a 287 per cent increase from $235 million in 2023 to $909 million.
Switzerland ranks second, rising 591% from $88 million to $605 million in 2023. Jordan ranks third with exports reaching $3 million in 2022, an 80% increase from $41,000 in 2023.
Canada fell to fourth place, falling 99 per cent from $372 million in 2023 to $3 million.
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Turkiye ranks fifth with $1.476 million, a 19.157% increase from $0.08 million in 2023.
On the other hand, the Central Bank of Egypt (CBE) announced in August that it would extend the deadline for receiving gold exports to 75 days from the date of delivery, compared to the previous seven or 30 working days.
Barzi stated that in the first 7 months of 2024, 52 per cent of the export market will be accounted for by Arab countries, 22 per cent by EU countries, 7 per cent by non-Arab African countries, 5 per cent by the United States, and 5 per cent by the United States. The remaining countries have a share of 14%.
