Out of this quantity, approximately 5 million tons were allocated for government purposes, while the remainder was intended for the private sector.
This was due to the decrease in the value of Egypt's non-oil imports, which reached $18 billion during Q4 of 2023, compared to about $19 billion during the same quarter of 2022, with a decrease rate of about 5.3%.
This came within the framework of Egypt's strategy to reduce the value of the import bill and increase the reliance on the local products.
According to CAPMAS, during December 2023, value of Egypt’s exports decreased by 23.0%, to reach $3.48 billion, compared to $4.52 billion for the same month of 2022.
CAPMAS reported that the country's imports saw a 21% yearly decrease, amounting to $58.5 billion, in contrast to $74 billion for the same period in 2022.
