Imports of appliances decrease to Egypt


According to Egypt Today magazine, in 2017 imports of home appliances to the country decreased by 80% over the past fiscal year. This is the results of a decision taken by the Ministry of Industry and Trade’s approval of imports, deputy chairman of the home appliances division at the Federation of Egyptian Chambers of Commerce, that approved a measure obliging the registration of foreign factories that export to Egypt, noting that more than 90 percent of these factories are disallowed from sending products to Egypt. So now, it seems that many importers of home appliances moved to Egypt to produce directly in the country to reduce imports.
In addition, according to GfK Temax, the floating of the Egyptian Pound in November 2016 had a double digit devaluating effect, resulting in markets witnessing high increase in value opposite majorly drops in volumes. So, Major Domestic Appliances sector saw an increase in sales of local players, who have a high pricing advantage over international players. Premium segments are the most highly affected. Small Domestic Appliances, instead, recorded a strong growth in value, while in terms of market volume, faced challenges due to big jumps in prices.