Eased tariffs, geopolitical risks fuel Egypt’s gold export boom

According to a previous statement by Ihab Wasef, head of the Gold and Jewellery Division at the Metallurgical Industries Chamber of the Federation of Industries, gold exports hit $3.2 billion during the first quarter (1Q) of 2025.

Global and regional geopolitical tensions and Trump's new tariffs have driven gold prices to significant surges, which caused a local increase of gold prices by about 24 percent from the beginning of the year until mid-May 2025.

Egypt's ranking as a global jewelry exporter rose from 94th in 2022 to 54th by the end of 2023. Within two years, Egypt aspires to be ranked among the top ten jewelry exporters globally.

Ahram Online spoke to experts about Egypt's prospects of achieving that target, given the ongoing challenges and the reasons behind the country's advancement in the gold exports rank.

Rafik Abassi, the former head of the Gold and Jewellery Division at the Metallurgical Industries Chamber of the Federation of Industries, explained to Ahram Online that the current surge in gold jewelry exports results from nearly two years of exporting.

Abassi added that exports increased after overcoming previous export obstacles, including valuation fees and the cancellation of the stamp duty.