Egypt’s gold export sector has recorded $3.2 billion in exports during the first quarter of 2025. This achievement marks a new chapter for the country’s jewelry industry, according to Ihab Wasif, who leads the Gold and Precious Metals Division at the Federation of Egyptian Industries.
Wasif explained that this growth stems from several key factors. Firstly, global demand for gold has soared as geopolitical tensions and economic uncertainty push investors toward safer assets. This worldwide trend has created new opportunities for Egypt’s gold products in both traditional and emerging markets.
Secondly, Egypt’s jewelry sector has substantially improved in design and manufacturing quality. Local producers are now creating pieces that match international standards, allowing Egyptian jewelry to compete in high-end markets such as Saudi Arabia, the UAE, Europe, and North America. Wasif emphasized that Egyptian craftsmanship has reached a level where it can confidently stand alongside global luxury brands.
Thirdly is Egypt’s active participation in international trade exhibitions. By showcasing their products abroad, Egyptian companies have been able to strengthen their presence, and build trust with foreign buyers.
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Breaking down the numbers, Wasif highlighted that exports in January reached $929.5 million, followed by a sharp increase to $1.8 billion in February, with strong sales continuing through March. Key markets for these exports included the UAE, Saudi Arabia, and Turkey, with growing demand also observed in Europe and the U.S.
Wasif credited the support of Egypt’s government for this success, including efforts by the Ministries of Supply, Industry, and Investment, as well as the Central Bank. A recent policy change extending the payment period for export proceeds to 75 days has also helped exporters navigate international markets more effectively.
Looking ahead, Egypt is targeting a spot among the top 10 gold-exporting countries by 2027. Wasif added that further policy adjustments, such as returning to a 180-day payment window, would give Egyptian exporters even greater flexibility to compete on the global stage.
