USD 44 Billion Worth of Imported Goods Released From Egypt’s Ports

Around USD 44 billion worth of imported goods has been released from Egyptian ports in 2024 according to the Egyptian Customs Authority (ECA). Amongst these items, strategic goods and medicines are being prioritised.

Customs revenues for the past fiscal year reached a high of EGP 85 million, with the amount of gold that was exempt from customs duties until June 2024 reaching around 4.5 tons.

The ECA has also been working with the Ministry of Social Solidarity to import cars for people with disabilities. Around 68,000 out of a total of 142,000 of these cars were released to the public in 2023. Since June 2024, however, Egypt has set a cap of 10,000 imported cars monthly.

In 2023, Egypt released around USD 63 billion worth of imported goods between the start of the year and November of that year.

The shortage of US Dollar liquidity has slowed the release of strategic goods from Egyptian ports.