Egypt’s imports from BRICS countries surge 17% in 8m

Egypt’s imports from BRICS countries experienced a significant increase of 17 per cent year-on-year during the first eight months of 2024. According to Egypt’s official statistics agency CAPMAS, imports from BRICS nations reached $24.5 billion in the first eight months of 2024, up from $20.9 billion in the same period in 2023.

China remained the top exporter to Egypt, with imports reaching $9.8 billion. Saudi Arabia followed closely with $4.3 billion, followed by Russia at $4.1 billion, Brazil at $2.5 billion, India at $2 billion, and the UAE at $1.8 billion.

Machinery accounted for the largest share of Egypt’s imports from BRICS nations, valued at $4.2 billion. Other significant imports included fuel and mineral oils ($3.4 billion), pharmaceuticals ($2.6 billion), iron and steel ($2.2 billion), and chemical products ($1.8 billion).

Trade between Egypt and Russia witnessed a particularly strong growth, reaching $30.2 billion during the first eight months of 2024, a 15% increase from the previous year.

Attribution: Emailed CAPMAS report

Subediting: Y.Yasser