diff --git a/swh/loader/svn/replay.py b/swh/loader/svn/replay.py
--- a/swh/loader/svn/replay.py
+++ b/swh/loader/svn/replay.py
@@ -482,7 +482,6 @@
                 peg_rev=copyfrom_rev,
                 ignore_keywords=True,
                 overwrite=True,
-                ignore_externals=True,
             )
             self.directory[path_bytes] = from_disk.Directory.from_disk(path=fullpath)
 
diff --git a/swh/loader/svn/tests/test_externals.py b/swh/loader/svn/tests/test_externals.py
--- a/swh/loader/svn/tests/test_externals.py
+++ b/swh/loader/svn/tests/test_externals.py
@@ -1640,3 +1640,66 @@
         type="svn",
     )
     check_snapshot(loader.snapshot, loader.storage)
+
+
+def test_loader_copyfrom_rev_with_externals(
+    swh_storage, repo_url, external_repo_url, tmp_path
+):
+    add_commit(
+        external_repo_url,
+        "Create some directories and files in an external repository",
+        [
+            CommitChange(
+                change_type=CommitChangeType.AddOrUpdate,
+                path="code/hello/hello-world",
+                data=b"#!/bin/bash\necho Hello World !",
+            ),
+        ],
+    )
+
+    add_commit(
+        repo_url,
+        "Create repository structure, one externals directory with svn:externals"
+        "property set and one trunk directory",
+        [
+            CommitChange(
+                change_type=CommitChangeType.AddOrUpdate,
+                path="externals/",
+                properties={
+                    "svn:externals": f'{svn_urljoin(external_repo_url, "code/hello/")} hello'  # noqa
+                },
+            ),
+            CommitChange(
+                change_type=CommitChangeType.AddOrUpdate,
+                path="trunk/",
+            ),
+        ],
+    )
+
+    add_commit(
+        repo_url,
+        "Add copy of externals directory to trunk from revision 1.",
+        [
+            CommitChange(
+                change_type=CommitChangeType.AddOrUpdate,
+                path="trunk/externals/",
+                copyfrom_path=repo_url + "/externals",
+                copyfrom_rev=1,
+            ),
+        ],
+    )
+
+    loader = SvnLoader(
+        swh_storage,
+        repo_url,
+        temp_directory=tmp_path,
+        check_revision=1,
+    )
+    assert loader.load() == {"status": "eventful"}
+    assert_last_visit_matches(
+        loader.storage,
+        repo_url,
+        status="full",
+        type="svn",
+    )
+    check_snapshot(loader.snapshot, loader.storage)