CAIRO- 6 August 2024: During the initial five months of 2024, Egypt’s total imports of passenger cars surged to $1.13 billion, marking a substantial increase from $548 million during the same period in 2023, reflecting a rise of approximately $583.9 million, as stated in a report by the Central Agency for Public Mobilization and Statistics (CAPMAS).
In May alone, Egypt imported cars worth about $208.3 million, compared to around $180.9 million in May 2023, indicating a $27.4 million increase.
CAPMAS reported a significant increase in Egypt’s car imports recently, hitting $169.7 million in April, a leap from $92.8 million in April 2023, showing growth of about $76.9 million.
This surge in car imports aligns with the upward trend in the car import index since the start of 2024. In March, car imports reached about $152 million, rising from $94.8 million in March 2023, a $57.1 million increase.
However, Egyptian imports witnessed a 5.1 percent decline in May 2024, dropping to $7.38 billion from $7.77 billion in May of the previous year, according to CAPMAS.
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