Egypt’s The Central Agency for Public Mobilization and Statistics (CAPMAS) reported an increase in trade between Egypt and BRICS countries to US$30.2 billion in the first eight months of 2024, compared to US$26.2 billion in the same period of 2023.

According to CAPMAS data, Egypt’s exports to BRICS countries totalled US$5.7 billion in the first eight months of this year, up 7.3 per cent from $5.3 billion in 2023. Saudi Arabia was the largest importer of Egyptian goods, purchasing US$2.2 billion worth of products. This is followed by the UAE (US$1.8 billion), Brazil (US$488 million), Russia (US$438 million), India (US$343 million) and China (US$290 million). This is reported by Daily News Egypt, a partner of TV BRICS. The most significant groups of goods exported to these countries include pearls, gems and jewellery worth US$979 million, vegetables and fruits worth US$967 million, electrical appliances and equipment worth US$415 million, fuels and mineral oils worth US$358 million, and iron and steel worth US$254 million.

On the other hand, the volume of goods imported to Egypt from BRICS countries in the first eight months of 2024 totalled US$24.5 billion, up 17 per cent from US$20.9 billion in 2023. In this segment, China ranked first with imports worth US$9.8 billion, followed by Saudi Arabia (US$4.3 billion), Russia (US$4.1 billion), Brazil (US$2.5 billion), India (US$2 billion) and the UAE (US$1.8 billion).

The most important imported product groups include electrical and mechanical equipment at US$4.2 billion, fuels and mineral oils at US$3.4 billion, grains at US$2.6 billion, and iron and steel at US$2.2 billion.

According to CAPMAS, BRICS investments in Egypt for fiscal year 2022/2023 totalled US$4.4 billion, compared to US$19.5 billion in the previous year. Saudi Arabia was the top investor with US$1.8 billion, followed by the UAE (US$1.5 billion), China (US$750 million), India (US$154.4 million) and Russia (US$125.9 million). According to the agency, Egyptian investments in BRICS countries totalled US$17.3 billion, down from US$22 billion last year. Saudi Arabia was also the top recipient of Egyptian investments with US$7.8 billion, followed by the UAE ($5.2 billion), China (US$2.5 billion), Russia (US$789.5 million) and India (US$488.4 million).

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