Commodities Worth USD 63 Billion Released From Egyptian Ports in 2023
A backlog of goods worth USD 5 billion still await release from Egyptian ports.
Nov 30,2023
Since the start of 2023, Egypt’s ports have released imported commodities worth USD 63 million, with goods worth USD 5 billion still awaiting release. The Egyptian Customs Authority (ECA) announced that they are continuing their efforts in expediting the release process.
Ever since the start of the Russia-Ukraine war, which has affected economies across the globe, Egypt has been struggling with releasing its goods from ports due to a shortage of foreign currency and the resulting devaluation of the Egyptian pound. The backlog of products at Egyptian ports reached an all-time high in October 2022, with goods worth USD 15 billion.
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