Egypt Daily News – Egypt’s trade volume with BRICS countries surged by 19.5% in 2024, reaching $50.8 billion compared to $42.5 billion in 2023, according to data released by Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) on Sunday. The report was issued in the context of the 17th BRICS Summit, taking place from July 6–7, 2025, in Rio de Janeiro, Brazil, under the theme “Enhancing Global South-South Cooperation for More Inclusive and Sustainable Governance.”
Established in 2006, BRICS—comprising Brazil, Russia, India, China, and South Africa—has expanded its membership in recent years. Egypt officially joined the bloc in January 2024, alongside Saudi Arabia, the United Arab Emirates, Iran, and Ethiopia. Indonesia followed in January 2025.
Trade Overview
Egypt’s exports to BRICS nations climbed to $9.4 billion in 2024, up from $8.5 billion the previous year—a 10.6% increase. Imports from BRICS countries rose even more sharply, reaching $41.4 billion, compared to $34 billion in 2023—an increase of 21.8%.
Saudi Arabia was Egypt’s top export destination among BRICS members, receiving $3.4 billion worth of goods. It was followed closely by the UAE ($3.3 billion), Brazil ($854.4 million), Russia ($606.8 million), India ($517.4 million), China ($393.6 million), Indonesia ($151.3 million), South Africa ($114 million), Ethiopia ($113 million), and Iran ($2.4 million).
Leading Egyptian exports to BRICS countries included:
- Precious stones and jewelry: $2.1 billion
- Fruits and vegetables: $1.4 billion
- Electrical machinery: $627 million
- Fuel and mineral oils: $520 million
- Iron and steel products: $450 million
On the import side, China topped the list of exporters to Egypt, with shipments totaling $15.5 billion. Other major exporters included Saudi Arabia ($7.9 billion), Russia ($6 billion), Brazil ($4.2 billion), India ($3.3 billion), and the UAE ($2.7 billion).
Key Egyptian imports from BRICS in 2024 included:
- Electrical machinery and equipment: $6.6 billion
- Fuels and mineral oils: $6.5 billion
- Grains: $4.3 billion
- Iron and steel products: $3.3 billion
- Plastics: $2.9 billion
- Organic chemicals: $1.8 billion
- Vehicles and tractors: $1.4 billion
Investment Flows
BRICS countries invested a total of $40.6 billion in Egypt during the fiscal year 2023/2024, while Egyptian investments in BRICS countries reached $1.7 billion.
The UAE was the largest BRICS investor in Egypt, accounting for $38.9 billion of the total. Saudi Arabia followed with $775.5 million, then China ($629.5 million), South Africa ($124.6 million), Russia ($91.5 million), and India ($26 million).
Remittances and Workforce
Remittances from Egyptians working in BRICS countries amounted to $9.8 billion during the 2023/2024 fiscal year, down from $10.4 billion in the previous year. Saudi Arabia alone accounted for $8 billion of the total, followed by the UAE ($1.8 billion), China ($19.5 million), India ($7.9 million), and South Africa ($5.8 million).
Conversely, remittances from BRICS workers in Egypt totaled $76.2 million in 2023/2024, down from $98.5 million the year before. The UAE led with $31.6 million, followed by India ($19.6 million), Saudi Arabia ($11.6 million), and South Africa ($6.1 million).
As of the end of 2023, approximately 2.2 million Egyptians were estimated to be working in BRICS countries.
Strategic Significance
The figures underscore Egypt’s growing integration with the BRICS economic bloc, following its formal accession in 2024. The increase in trade, investment, and labor movement reflects Cairo’s strategic pivot toward multipolar economic alliances and its expanding role in Global South cooperation.
The BRICS Summit in Rio de Janeiro is expected to further explore frameworks for economic integration, investment facilitation, and sustainable development among its now-expanded membership.
