Cairo, Sept 27 (Reuters) – Egypt’s gold and gold jewellery exports fell 44% in the January-July 2026 period, reaching about $2.4 billion, the Federation of Egyptian Industries said.
Ehab Wassef, head of the federation’s Gold and Precious Metals Division, attributed the decline to stronger domestic demand that absorbed a larger share of supply, regional air‑traffic disruptions linked to the war in the Middle East, and procedural hurdles in export paperwork.
Domestic buyers purchased more gold jewellery during the first seven months, limiting the volume available for overseas markets. Export sales to the United Arab Emirates, Egypt’s top destination, dropped from $3.4 billion in the same period of 2025 to roughly $1.2 billion, a 65% fall.
Wassef noted that trade with Canada and Australia helped offset part of the loss, but the UAE remained the leading market despite the sharp decline.
Export‑process challenges
The federation highlighted bureaucratic obstacles that increase cost and time for exporters. Companies must navigate multiple government agencies, face difficulties recovering value‑added tax, and contend with complex rules for participation in international trade fairs, which are key for market expansion.
Wassef said simplifying these procedures could boost the sector’s competitiveness and enable Egyptian jewellery makers to tap opportunities in other overseas markets.