Customs Has Released USD 8 Billion in Imported Goods Since March

The Ministry of Finance announced that USD 8 billion in imported goods have been released between March and April, highlighting the permanent coordination between customs clearance specialists and the various inspection bodies that are responsible for approving imports into Egypt. These authorities are working to make procedures for releasing imports more efficient, decreasing the amount of time it takes to process these goods and preventing the accumulation of goods at ports.

Import backlogs negatively impact Egyptian consumers, causing the prices of various commodities to rise. They also slow production of Egyptian products when they prevent raw materials from reaching manufacturers. These backlogs have been a recurring problem since 2022 due to Egypt’s foreign currency shortage.

According to the ministry, priority is being given to food commodities, medicines, and material required for production. Goods that are not lodged or filed before their expiration date will be considered abandoned.