Gold Division Calls for Including Gold Jewelry Exports in Export Support Programs to Boost Egypt’s Global Competitiveness

As part of ongoing efforts to improve the business environment in Egypt’s gold and jewelry sector—and in line with the state’s vision to transform Egypt into a global hub for gold and jewelry trading while expanding exports of gold jewelry—the General Division of Gold and Jewelry has prepared a comprehensive study addressing this objective.

The study was formally submitted by Osama Basha, Secretary-General of the Federation of Egyptian Chambers of Commerce and Minister Plenipotentiary for Trade, in a memorandum to Dr. Amani El-Wasal, Executive Director of the Export Development Fund and Head of the Foreign Trade Agreements Sector. The memorandum calls for the inclusion of Egyptian gold jewelry exports within the export support programs offered by the Fund, given the expected positive impact of such a decision on developing this vital sector, deepening local manufacturing, and increasing returns from Egyptian exports.

The study outlines the rationale behind granting gold jewelry access to export support incentives, as well as the anticipated outcomes of this move. These include a meaningful increase in foreign currency inflows, enhanced capacity of the sector to upgrade Egyptian products, job creation, and the development of artisanal and technical skills within the gold and jewelry industry—positioning it to secure a larger share of the global market.

According to the study, the global jewelry market was valued at approximately $230–$367 billion in 2024 and is projected to reach between $340 billion and $578 billion by 2032–2033. The Asia-Pacific region dominates the largest share of this market. Jewelry also accounts for a significant portion of global gold demand, representing about 43.68% of total demand in 2024. Despite Egypt’s strong production capabilities, its gold jewelry exports over recent years have not exceeded $1 billion, compared with more than $5 billion in exports of raw gold.

The study emphasized that approving export support for gold jewelry would remove one of the key obstacles limiting the competitiveness of Egyptian jewelry in international markets, particularly in light of the notable improvement in both quality and production volumes following extensive upgrades to manufacturing lines at many Egyptian factories. It also highlighted the role of NEBU—the Egyptian International Gold and Jewelry Exhibition—which, through its four previous editions, has helped open global market access for Egyptian products.

Such facilitation measures would also encourage Egyptian manufacturers to participate in international exhibitions without bearing additional financial burdens, including customs duties, valuation fees, and value-added tax. These costs have historically weighed on cash flow and negatively affected capital cycles, limiting the ability of Egyptian gold jewelry producers to expand their presence in global markets.