About Egypt

In 2023, Egypt ranked the world’s third in terms of its annual increase in strategic gold reserves, up from 75 tons to 125 tons. Egypt’s Ministry of Petroleum and Mineral Resources revealed that the sales of gold and silver recorded USD 5.3 billion between 2014 and 2022. Last year, gold and silver sales witnessed a 17% jump over the 2021 figures, with 568,000 ounces of gold and silver sold, fetching a revenue of USD 878.24 million.

According to the annual report by the General Organization for Export and Import Control, 2022 Egypt’s gold exports grew by 33%, reaching USD 1.63 billion compared to USD 1.12 billion in 2021.

This year alone, sales of Egyptian gold products are expected to hit an unprecedented level of USD 1 billion. In anticipation of this boom and to attract foreign investment, Egypt recently established The City of Gold, a 150 acres space dedicated to gold manufacturing and trading. It features 400 workshops for gold production, 150 educational seminars, and an integrated technical school for gold and jewelry.

The international community is eager to engage with Egypt, as a presence in the Egyptian market provides preferential access to over 400 million inhabitants in Africa and the MENA region. This extensive accessibility is enabled by the roster of free trade agreements that Egypt has signed with many countries. Its’ membership in the African Continental Free Trade Agreement (AFCFTA), Common Market for Eastern and Southern Africa (COMESA), Agadir Free Trade Agreement, Greater Arab Free Trade Agreement (GAFTA), and the Pan-Arab Free Trade Agreement are just a few of these influential accords.