Egypt exported $3.2 billion worth of gold and gold jewelry in the first quarter of 2025, the highest quarterly total on record, according to Egyptian media, citing the Chamber of Metallurgical Industries. February alone accounted for $1.8 billion, with major buyers including the UAE, Saudi Arabia, Turkey, the U.S., and European markets.
The surge reflects Egypt’s growing ambitions to make gold a key export sector. Ehab Wassef, head of the Gold and Precious Metals Division, said the goal is for gold to account for at least 5% of the country’s total merchandise exports. Egypt has climbed rapidly in global rankings, jumping from 94th place in 2022 to 54th in 2023 in gold jewelry exports.
Wassef said strong government support has helped fuel the sector’s growth and predicted Egypt could enter the top 10 global gold exporters by 2027.
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