A report released this week suggests that exports by Egypt to fellow BRICS members have risen by 31.5% between January and December 2024.
The leap in export value rose from $688 million to $905 million in the course of the period under review.
This follows the North African country’s official admission to this exclusive club of emerging economies originally comprising Brazil, China, India, Russia and South Africa.
According to the same report imports to Egypt from the bloc during the same period witnessed ”a substantial jump of 40.1%, climbing from $2.41 billion to $3.38 billion”.
The report also juxtaposed trade markets with the demographics of its members, indicating that China with a population growing from 1.37 billion to 1.41 billion leads the bloc.
Egypt whose population has grown from 88.3 million to 105.2 million between 2014 and 2023 is in sixth.
Following the extension of BRICS from five to 19 members and partner nations, the bloc commands 54.6% of the world’s population, according to IMF data in 2024.
The population of the new BRICS stands at 4.32 billion out of 7.92 billion people globally.
WN/as/APA