61% Decline in Egyptian Gold Exports During Q1 2026

Egypt's exports of gold (jewelry) and precious stones witnessed a sharp decline of 61% during the first quarter of 2026, recording approximately $1.136 billion, compared to $2.926 billion during the same period in 2025.

This decline was driven by a significant drop in shipments to several key markets, primarily the UAE, despite it retaining its position as the largest importer of Egyptian gold.

UAE Leads Despite Sharp Decline

Exports to the UAE decreased by 75% to reach $652 million, compared to $2.602 billion during the corresponding period last year. However, the UAE accounted for approximately 57.4% of total exports, remaining the most important market for the sector.

Remarkable Growth in Alternative Markets

In contrast, some other markets showed positive performance, with exports to Switzerland increasing by 55% to reach $476 million. Exports to Canada also rose by 62% to record $5 million, and to the United States by 32% to reach $1.348 million.

On the other hand, exports to Italy declined by 53% to approximately $584,000.

Geographical Spread Despite Decline

Data showed that Egypt exported gold and precious stones to 23 countries during the first quarter of the year, reflecting the continued diversification of foreign markets, despite the noticeable decline in the total value of exports.