Originally comprising Brazil, Russia, India, China, and South Africa (BRICS,) Egypt, Saudi Arabia, UAE, Iran, and Ethiopia officially joined the group in January 2024.

CAPMAS shared that Egypt’s exports to the BRICS members expanded to $5.7 billion during the first eight months of 2024, compared to $5.3 billion during the same period in 2023, marking an increase of 7.3%.

In addition, Saudi topped the list of the countries that imported the most from Egypt during that period, as Egyptian exports amounted to $2.2 billion. This is followed by the UAE with $1.8 billion, Brazil with $488 million, Russia with $438 million, India with $343 million, and China with $290 million.

Among the most significant commodities exported to said countries were pearls, precious stones, and jewelry worth $979 million, vegetables and fruits amounting to $967 million, electrical appliances and equipment worth $415 million, fuel and mineral oils worth $358 million, and iron and steel worth $254 million.

Meanwhile, Egyptian imports from those countries totaled $24.5 billion during the first eight months of 2024, compared to $20.9 billion in 2023, a 17% increase.

China topped the list of exports to Egypt, as the value of Egypt’s imports amounted to $9.8 billion. It was followed by Saudi Arabia with $4.3 billion, Russia with $4.1 billion, Brazil with $2.5 billion, India with $2 billion, and the UAE with $1.8 billion.

According to the agency, the most important commodity groups imported from these countries included electrical and mechanical equipment and appliances worth $4.2 billion, fuel, mineral oils, and distillation products amounting to $3.4 billion, grains worth $2.6 billion, iron and steel and their byproducts valued at $2.2 billion, and plastics and their byproducts worth $1.8 billion. 

The agency noted that the value of BRICS investments in Egypt amounted to $4.4 billion in fiscal year 2022/2023, as compared to $19.5 billion in fiscal year 2021/2022.

Moreover, Saudi came first in the list of BRICS countries with the highest investment in Egypt in 2024, amounting to $1.8 billion, followed by UAE with $1.5 billion, China at $750 million, India with $154.4 million, and Russia with $125.9 million.