The article analyzes the dynamics and structure of trade between the Russian Federation and the Arab Republic of Egypt. The authors note the positive dynamics of trade turnover between the two countries over a period of more than twenty years, highlighting trends and stages in the development of mutual trade in 2002-2023. Such a long period of time allows us to draw reasonable conclusions. The novelty of the author's approach lies in the fact that in addition to the absolute indicators of Russian-Egyptian trade relations, the article considers relative indicators, such as the share of mutual trade in the foreign trade turnover of the Russian Federation and Egypt, as well as the comparative dynamics of Russian exports to Egypt, imports from Egypt and GDP of our country. The authors show that if the absolute indicators of trade turnover between the two countries are characterized by positive dynamics, then when considering the relative indicators of trade between the two countries, such a trend is not so clearly manifested. Particular attention is paid to the analysis of the dynamics of the structure of Russian exports to Egypt and imports from Egypt. As a result of the study, the authors conclude that there are quite big problems in the development of Russian-Egyptian trade cooperation. These include the unidirectional nature of these relations and the low level of investment cooperation. In addition, Russian exports prevail in mutual trade, and grain supplies have a significant share in it. The weak diversification of the structure of Russian-Egyptian trade hinders the development of mutual trade between the Russian Federation and Egypt. It is also necessary to take into account the fact that the Arab Republic of Egypt pursues a multi-vector foreign trade policy, in which Russia is far from being the highest priority.