Car sector imports lose $ 1.4 bln in 10 months

27 Dec 2017

Passenger cars imports value lost 62.4% to reach $ 873 million during the period January to October, compared to $ 2 billion and $ 325 million in the same period of 2016.

According to data released by the Customs Authority, of which Al-Mal obtained a copy, the Authority was able to collect 2.5 billion pounds customs duties of those cars, with customs exemptions estimated at 3 billion and 657 million pounds during that period.

The value of cars imported from the European Partnership Agreement amounted to 477 million dollars, accounting for 54.4% of total imported cars, with EGP 2 billion and 692 million customs duties. The volume of exemptions amounted to EGP 899 million.

Cars imported from 'Turkey -Trade Agreement countries ' recorded $ 59 million - a share of 6.7%, while customs duties collected reached about 119 million pounds, with 276 million estimated customs exemptions.

The imported passenger cars value declined during the third quarter of this year by 37%, recording 302 million dollars, compared to 480 million during the same period last year.


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