Egypt’s gold and gold jewellery exports declined during the first seven months of 2026, mainly due to stronger domestic demand, regional disruptions affecting air transport, and challenges related to export procedures, according to Ehab Wassef, Head of the Gold and Precious Metals Division at the Federation of Egyptian Industries.
Wassef said in a report issued by the division that the Egyptian market recorded stronger demand for gold purchases during the January-July period, particularly gold jewellery, absorbing a larger share of available supply and reducing the quantities available for export.
He added that continued foreign trade activity with markets including Canada and Australia helped offset part of the decline in exports to the UAE.
Wassef said the UAE, Egypt’s largest destination for gold and gold jewellery exports, has recently been affected by disruptions to air traffic linked to the regional war, affecting shipping and export operations and contributing to lower volumes shipped to the Emirati market.
Egypt’s gold and gold jewellery exports fell 44% during the first seven months of 2026 to around $2.4bn, compared with $4.3bn during the same period in 2025, according to data from the General Organization for Export and Import Control.
Exports to the UAE stood at around $1.2bn during the January-July period, down from $3.4bn a year earlier, marking a decline of about 65%. Despite the drop, the UAE remained the leading destination for Egyptian gold exports.
Wassef also pointed to bureaucratic and procedural challenges facing Egyptian companies seeking to expand in international markets, particularly jewellery manufacturers and exporters.
He said exporters are required to deal with multiple government entities during the export process, increasing the time and cost required to complete transactions.
Among the main challenges are difficulties in recovering value-added tax (VAT) and complicated procedures for Egyptian companies participating in international trade fairs, which are an important tool for promoting Egyptian products and opening new markets.
Addressing these obstacles would improve the international competitiveness of Egypt’s gold and jewellery sector and strengthen companies’ ability to expand exports, Wassef said, noting that Egyptian gold products have opportunities in several international markets.
