Value of Egypt’s car imports recorded about $170.4 million last July, while it was about $232.7 million in July 2023, a decline of about $62.3 million, according to latest data released by Central Agency for Public Mobilization and Statistics ( CAPMAS).

Egyptian imports of passenger cars have continued to decline since last June, with the value of imports amounting to about $133.8 million, while they were about $156.7 million in the same month in 2023, a decline amounting to about $ 22.9 million.

The decline in car imports came at a time when the first months of the current year 2024 witnessed a noticeable increase, as the value of car imports last April amounted to about $169.8 million, an increase from $92.8 million in April 2023, an increase of about $76.9 million.

Earlier in October, CAPMAS reported that the trade balance deficit amounted to $4.60 billion during July 2024, compared to $3.89 billion for the same month of the previous year, an increase of 18.3%.

According to CAPMAS, Egypt’s exports increased by 10.7%, reaching $3.54 billion in July 2024, compared to $3.20 billion in the same month of the previous year.