Jewelry and precious stone exports marks $209M in April

CAIRO – 28 June 2017: Egypt’s exports of jewelry and precious stones recorded $209 million (LE 3.7 billion) in April, with the United Arab Emirates topping the list of importers at $154 million, a local report said Wednesday.

Switzerland followed the UAE at $31 million in jewelry and precious stones imports, then Turkey ($16 million), Lebanon ($7 million) and Saudi Arabia ($445,000), the Export Council for Building Materials (ECBM) stated in the report.

Total exports of the ECBM soared 58 percent in the first quarter of 2017 to register $1.3 billion, compared to $870 million in the same period in 2016.

Around $703 million of the aforementioned value was generated from jewelry and precious stones exports, which hiked 88 percent in Q1, up from $373 million in the corresponding period last year.

The UAE alone imported a worth of $447.6 million, according to the report.

Jewelry and precious stones are listed under the ECBM after it merged with Export Council for Metallurgical Industries in 2011.