Egypt's gold imports increase concerns on local manufacturing

Official data showed that Egypt's gold imports recorded an unprecedented increase during the first half of 2026, reaching $4.05 billion, a rise of 1523.2% compared to the same period last year. Gold imports topped the list of imported goods, accounting for 8.42% of total non-oil imports. This surge is attributed to the rising domestic demand for bullion, which led to increased local manufacturing, as well as citizens' desire to save by purchasing gold instead of investing their money in banks following the decline in banking returns—especially after the end of high-interest certificates. Additionally, the decline in global gold prices and the weakening of the exchange rate encouraged purchases. Experts also anticipate an increase in gold exports during the second half of the year, as bullion manufacturing continues and investors turn to gold as a preferred saving method.

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