Egypt’s cast iron, steel imports rise in Q1 ’24

Egypt witnessed a significant increase in its cast iron and steel imports during the first quarter of 2024, with a 29.5 per cent rise to $1.164 billion compared to $898.992 million in the same period of 2023. These imports accounted for 6.1 per cent of the country’s total imports for the quarter.

Data from the CAPMAS, obtained by Amwal Al Ghad (Arabic), showed that 10 countries accounted for 70.7 per cent of Egypt’s total imports of iron and steel during the first quarter, amounting to $823.949 million compared to $733.311 million during the first quarter of 2023.

Import increased from the following sources:

• Imports from Lebanon grew by 118.8 per cent to reach $46.419 million compared to $21.213 million in the same period last year.
• Imports from Russia surged by 103.5 per cent to reach $201.142 million compared to $98.855 million in the same period last year.
• Imports from Libya jumped by 351 per cent during the first three months of the current year to reach $23.849 million compared to $5.288 in the same period last year.
• Imports from China climbed by 49.2 per cent to reach $197.798 million compared to $132.549 million in the same period last year.
• Imports from the Netherlands increased by 92.2 per cent to reach $88.155 million compared to $45.854 million in the same period last year.
• Imports from the United Kingdom soared by 56.6 per cent to reach $228.726 million compared to $146.065 million in the same period last year.

Import decreased from the following sources:

• Imports of Turkish iron declined by 10 per cent to $94.914 million compared to $105.555 million in the same period last year.
• Imports from India also saw a decreased by 47.7 per cent to reach $25.729 million compared to $49.227 million in the same period last year.
• Imports from Belgium went down to reach $123.067 million compared to $128.709 million, a decrease of 4.4 per cent in the same period last year.

Attribution: Amwal Al Ghad (Arabic).