Egyptian media recently reported that Ehab Wassef, head of the Gold and Precious Metals Division of the Egyptian Federation of Industries, stated in a statement that Egypt’s exports of gold and precious metals in the first half of 2025 increased by 194% year-on-year, reaching a record high of 3.93 billion U.S. dollars.

Wasef, citing a report from the Gold and Precious Metals Division of the Egyptian Federation of Industries, stated that the United Arab Emirates remains Egypt’s largest export destination for jewelry, gemstones, and gold, having imported goods worth a total of $3.2 billion from Egypt in the first half of 2025. Switzerland ranked second, with imports totaling $705 million. Other key export destinations for Egypt include Canada, Turkey, Lebanon, Italy, and Saudi Arabia.

“This historic leap reflects a major transformation in the local gold industry and its rapid adaptation to global market dynamics,” said Wasef. He attributed this unprecedented growth to three key driving factors. First, heightened geopolitical instability and escalating trade tensions have boosted global demand for gold. Second, improved design and manufacturing standards have enhanced the competitiveness of Egyptian products. Third, the chapter has actively engaged in global marketing efforts, particularly through participation in major international trade fairs.