Egypt … phone prices are waiting for a big leap after this decision

The telephony market in Egypt is in waiting for new heights after the Official Gazette published the decision to increase the customs tariff on imported mobile phones to 10%.

The tariff has risen to double the 5% rate imposed by the National Telecommunications Regulatory Authority last year. The new tariffs apply to all mobile phones sold in the Egyptian market and imported from abroad, with the exception of SICO phones, which manufacture their phones locally.

The new tariff hike is expected to raise phone prices by 10-14% on the back of the new tariffs.

Under the decision, the tariff for solar panels will rise to 10% and imports of products in marble entirely processed at 20%, compared to the previous 2%, while customs duties on raw marble will remain unchanged at 2%.

The Central Agency for Public Mobilization and Statistics revealed a significant drop in Egyptian imports of cell phones and wheat during the month of July.

The agency’s data indicates that the value of Egypt’s imports of mobile phones dropped to $ 109.4 million in July, compared to about $ 171.8 million in July 2020, a drop of about $ 36. 3%.

The agency pointed out that Egyptian imports of mobile phones were on the list of the lowest Egyptian imports in that period. The list included both in terms of wheat, whose imports amounted to about $ 78.9 million last July, while their value was about $ 133.2 million in July 2020, down about 30.3%.

The list also included Egyptian imports of organic and inorganic chemicals, where the value of its imports was approximately $ 163.5 million, up from $ 210.9 million in the same month in 2020. in drop of about 22.5%, in addition to Egyptian imports of soybeans worth $ 130.4 million last July, compared to $ 206.1 million in the same month of 2020, a decrease of 36.7%.

The Statistical Authority indicated that the value of the trade balance deficit was about $ 2.88 billion in July, compared to about $ 3.37 billion in the same month last year, a decrease of about 14.6%.

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