Value of Egypt's imports of mobile phones rise to $564K last June

Recent data from the Central Agency for Public Mobilization and Statistics (CAPMAS) points to a marginal increase in Egypt's imports of mobile phones. The value of phone device imports for individuals in June reached approximately $564,000, marking an increase from $528,000 during the same period in 2022. This change represents an increase of $36,000. However, the total value of mobile phone imports in May presented a significant decline, dropping from approximately $13,595,000 in May 2022 to $282,000. This drop accounts for a decline of about $13,313,000. CAPMAS also released findings on the deficit in the trade balance, which stood at $2.32 billion in June, seeing a decrease of about 47.7% from $4.43 billion in the previous year. The total value of imports in June also declined by 38.1%, reaching $5.23 billion from $8.45 billion in the previous year. The report cited a decrease in the value of imports of several commodities, including petroleum products (37.8%), wheat (9%), and raw materials of iron or steel (42.7%), in addition to corn imports (42.4%).