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Egyptian raw gold imports rise sharply in Q1
Egypt's gold ore imports surged by 4,136% in the first quarter of 2026, reaching approximately $1.809 billion compared to $42.7 million in the same period of 2025, with March alone experiencing an increase of 2,278%. This trend is attributed to local factories importing raw materials for refining and re-export, aiming to boost domestic manufacturing, despite a 61% decline in Egypt's exports of worked gold and gemstones. Additionally, gold prices in the local market fell by 295 Egyptian pounds last week, even though they have increased by 8.8% since the beginning of the year.
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