A new report from Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) reveals a significant increase in Egypt’s trade with the BRICS bloc.
Egyptian exports to BRICS nations rose by 31.5%, from $688 million to $905 million, in the period from January to December 2024, following Egypt’s official admission to the alliance. During the same period, Egyptian imports from BRICS countries also saw a substantial jump of 40.1%, climbing from $2.41 billion to $3.38 billion.
The report also highlighted demographic and labor market trends within BRICS nations. China ranks first in total population, growing from 1.37 billion to 1.41 billion. Egypt stands sixth in total population, which increased from 88.3 million to 105.2 million between 2014 and 2023.
Regarding labor force participation, the United Arab Emirates ranked first, with Egypt coming in seventh and Iran in last place in 2023.
Unemployment rates saw declines in several member states between 2014 and 2023: Egypt’s rate fell from 13% to 7%, Iran’s from 10.6% to 8.1%, and Russia’s from 5.2% to 3.2%. Conversely, unemployment rates increased in Brazil (from 7% to 7.7%) and South Africa (from 24.9% to 32.1%) during the same period.
Egypt’s trade to BRICS countries soars over 30% post-admission Egypt Independent.
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