Egypt has witnessed a significant surge in trade with BRICS nations during the first eight months of 2024. According to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS), Saudi Arabia emerged as the top importer of Egyptian goods, followed closely by the United Arab Emirates.
Key Highlights:
Saudi Arabia leads the way. The Kingdom of Saudi Arabia imported Egyptian goods worth approximately $2.2 billion, solidifying its position as Egypt’s primary trading partner within the BRICS group.
Egypt’s exports to other BRICS nations, including the UAE, Brazil, Russia, India, and China, also experienced substantial growth. Overall, Egypt’s trade with the BRICS group surged to $30.2 billion during the first eight months of 2024, a 15% increase compared to the same period in 2023.
Egypt’s export basket to BRICS countries is diverse, encompassing a range of products such as agricultural commodities, manufactured goods, and petrochemicals.
This positive trend underscores Egypt’s growing economic significance and its ability to capitalize on emerging global markets. By strengthening trade ties with BRICS nations, Egypt aims to further diversify its economy and enhance its export capabilities.
