Trade between Egypt and BRICS countries to increase by 19.5%

Trade exchange between Egypt and the Brexes

 

Trade between Egypt and BRICS countries to increase by 19.5%

Trade between Egypt and the BRICS countries increased by 19.5% to $50.8 billion in 2024, compared to $42.5 billion in 2023, according to data from Egypt's Central Agency for Public Mobilization and Statistics. The agency stated that the value of Egyptian exports to the BRICS countries increased by 10.6% to $9.4 billion in 2024, compared to $8.5 billion in 2023.

The UAE topped the list of BRICS countries importing the most goods from Egypt in 2024, with exports reaching $3.3 billion, followed by Brazil at $854.4 million, and Russia at $606.8 million. The most important commodity groups exported from Egypt to the BRICS countries in 2024 were pearls and precious stones, vegetables, fruits, machinery, and electrical appliances.

The value of Egyptian imports from the BRICS group reached $41.4 billion in 2024, compared to $34 billion in 2023, an increase of 21.8 percent, according to data from the Egyptian Central Agency for Public Mobilization and Statistics.

China topped the list of BRICS countries' top exporters to Egypt in 2024, with imports totaling $15.5 billion, followed by Russia with $6 billion, Brazil with $4.2 billion, India with $3.3 billion, and the UAE with $2.7 billion. The most important commodity groups imported by Egypt from BRICS countries in 2024 were machinery, electrical appliances, fuel and mineral oils, grains, iron, and steel.

BRICS Investments in Egypt

The value of BRICS investments in Egypt reached $40.6 billion during the 2023/2024 fiscal year, while the value of Egyptian investments in BRICS countries reached $1.7 billion during the same period. The United Arab Emirates topped the list of BRICS countries investing the most in Egypt during the 2023/2024 fiscal year, with Emirati investments reaching $38.9 billion, followed by China with $629.5 million.

CAPMAS data revealed that remittances from Egyptians working in the BRICS group reached $9.8 billion during the 2023/2024 fiscal year, compared to $10.4 billion during the 2022/2023 fiscal year. According to the mission's estimates, the number of Egyptians residing in the BRICS group reached 2.2 million by the end of 2023.