Egypt’s Imports of Private Cars Decline for the Fourth Consecutive Month to $163.8 Million
Egypt’s Imports of Private Cars Decline for the Fourth Consecutive Month to $163.8 Million
Egypt’s private car imports recorded a significant decline for the fourth consecutive month in September 2024, according to a recent report by the Central Agency for Public Mobilization and Statistics (CAPMAS).
The report revealed that imports of finished private cars dropped by 25.2% year-on-year, marking a sharp reversal from the growth phase that lasted approximately seven months from late 2023.
In September 2024, the total value of private car imports amounted to $163.8 million, compared to $218.9 million during the same period in 2023, reflecting a reduction of $55.1 million.
This places private cars among the least-imported commodities in Egypt’s September import portfolio.
Growth in Auto Spare Parts and Other Vehicle Imports
While private car imports experienced a downturn, other sectors of the automotive industry showed robust growth:
- Auto Spare Parts: Imports of auto spare parts surged by 20.9% in September 2024, reaching a total value of $68.1 million, up from $56.3 million in September 2023. This represents an increase of $11.8 million.
- Goods Transport Vehicles: Imports of goods transport vehicles experienced a remarkable growth of 98.6%, climbing to $29.4 million from $14.8 million in September 2023, a gain of $14.6 million.
- External Tires and Inner Tubes: These imports increased by 40%, totaling $66.1 million in September 2024 compared to $47.2 million in the previous year, a rise of $18.9 million.
- Finished Tractors: This sector recorded exceptional growth of 208.5%, with imports reaching $43.5 million compared to $14.1 million in September 2023, a significant increase of $29.4 million.
Decline in Finished Bus and Minibus Imports
In contrast, imports of finished buses, microbuses, and minibuses witnessed a significant decline.
Their value dropped by 50.8%, falling to $2.9 million in September 2024 from $5.9 million in September 2023, a decrease of $3 million.
Overall Imports Show Positive Growth
Despite the drop in private car imports, Egypt’s total imports for September 2024 increased by 16.9%, marking the third consecutive month of growth since March 2022.
Total imports reached $7.86 billion, compared to $6.72 billion in September 2023.
The report underscores a dynamic shift in Egypt’s import trends, reflecting growth in certain sectors while highlighting challenges in the private car segment.
This mixed performance emphasizes the evolving nature of Egypt’s trade landscape.
