Egypt’s exports to BRICS countries surge to $4.9 bln

Egypt’s exports to BRICS countries reached $4.9 billion in 2022, up from $4.6 billion in 2021, recording an increase of 5.3 percent, data from the country’s official statistics agency CAPMAS released on Monday.

Egypt’s exports to India amounted $1.9 billion, followed by China with $1.8 billion, then Russia with $595.1 million, then Brazil with $402.1 million, and finally South Africa with $118.1 million.

The data further showed that the value of Egyptian imports from BRICS countries increased $26.4 billion in 2022, compared to $23.6 billion in the previous year, to reach an 11.5 percent growth.

It is worth mentioning that Egypt has submitted an official request in July to join the BRICS economic group, said the Russian ambassador to Cairo Georgy Borisenko.

Egypt has officially become a member of BRICS’ New Development Bank (NDB) and completed all the necessary procedures to become an eligible member on February 20, 2023.