Egypt's imports of consumer goods decrease by $7.8 M in May 2024
In May 2024, Egypt experienced a decrease in durable consumer goods imports, with a drop of $7.8 million to $298.1 million from $305.9 million in May 2023, as per data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
Over this period, factors contributed to the decline in consumer goods imports. For example, furniture and chair imports decreased from $10.7 million in May 2023 to $6.9 million last May, indicating a $3 million reduction.
Similarly, imports of magnetic tapes and disks fell from $16.1 million in May 2023 to $163 thousand in May 2024, showing a decline of $15,987 thousand.
CAPMAS recently disclosed that Egypt's total imports of passenger cars in the first 5 months of 2024 reached $1.13 billion, up from $548 million in the same period of 2023, marking a $583.9 million increase.
Egypt's overall imports decreased by 5.1 percent in May 2024 to $7.38 billion from $7.77 billion in the same month of the previous year, as reported by CAPMAS.
Additionally, in August, the agency announced a 10.3 percent reduction in Egypt's trade deficit in May, dropping to $3.5 billion from $3.9 billion in May 2023.
Exports in May saw a slight increase of 0.4 percent, reaching $3.81 billion compared to $3.79 billion in the same period of the previous year.