Egypt's gold and precious stone exports experienced a significant leap, soaring by 74 percent in the first 11 months of 2024 to reach $2.85 billion, compared to $1.64 billion during the same period in 2023, according to a government document reported by Al Arabiya Business.
The UAE emerged as Egypt’s largest export destination, with gold and precious stone shipments increasing by an impressive 103 percent to $1.76 billion, up from $874 million in 2023.
CAIRO – 27 January 2025: Switzerland also boosted its imports of Egyptian gold, witnessing a staggering 193 percent rise to $1 billion during this period, compared to $364 million in 2023.
Together, the UAE and Switzerland accounted for over 96 percent of Egypt's gold exports, importing a combined $2.76 billion worth of products.
While some markets flourished, others saw sharp declines. Canada’s imports of Egyptian gold dropped by 98 percent, reaching just $6 million, down from $373 million in the same period of 2023.
Similarly, Turkey’s imports fell by 89 percent, totaling $2.5 million compared to $22.3 million in 2023.
Conversely, Jordan recorded an extraordinary growth of over 2000 percent, with imports climbing to $3.3 million from just $0.1 million in 2023. These shifts highlight the changing dynamics of Egypt's gold export markets in 2024.
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