Egyptian imports of passenger cars decline by $22.9M in June 2024

In June 2024, Egyptian imports of passenger cars totaled around $133.7 million, down from about $156.6 million in June 2023, marking a decrease of approximately $22.9 million as per the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

While the first months of 2024 saw a significant rise in car imports, with April figures reaching about $169.7 million compared to $92.8 million in April 2023, indicating an increase of about $76.9 million.

Overall imports dropped by 3.3 percent in June 2024 to $6.0 billion, down from $6.21 billion in the same month the previous year.

This decline can be attributed to lower imports of various commodities, including a 21.5 percent decrease in wheat imports, an 11.9 percent decrease in medicines and pharmaceutical preparations, a 4.2 percent decrease in primary plastics, and a 28.6 percent decrease in corn imports.

However, some goods experienced an increase in imports in June 2024 compared to the previous year, notably petroleum products by 49.8 percent raw materials of iron or steel by 33.6 percent, organic and inorganic chemicals by 5.8 percent, and natural gas by 39.6 percent.