Egypt's imports of cars surge by $54.8M in December 2023

CAIRO – 13 March 2024: In December 2023, the value of Egypt's passenger car imports reached $214.8 million, marking a rise from $160.7 million in December 2022, an increase of approximately $54.8 million, revealed the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

Furthermore, in November 2023, Egypt's imports of passenger cars amounted to $223.4 million, exhibiting a growth compared to $107.3 million in the same month of 2022, with an increase of $116.9 million.

However, during the period from January to September 2023, the total imports of cars in Egypt experienced a decline.

The value dropped to approximately $1.3 billion, down from $1.5 billion in the same period of 2022, representing a decrease of around $213.6 million.

It is worth noting that Egypt's trade balance deficit expanded by 17.8 percent in December 2023, reaching $3.03 billion compared to $2.57 billion in December 2022, as reported by CAPMAS.

Additionally, the value of Egypt's exports in December 2023 decreased by 23.0 percent to $3.48 billion, compared to $4.52 billion in the same month of 2022.

Moreover, volume imports in December 2023 witnessed an 8.2 percent decline, amounting to $6.5 billion, in contrast to $7.09 billion in the same month of 2022.