The Clap:
Manufacturers of household appliances are expected to begin lowering prices by at least 5 to 10% , Federation of Egyptian Industries’ household appliances division chief Hassan Mabrouk told Al Arabiya Business.
Driving force:
Following the easing of the previous imports backlog, there is now a surplus of home appliances in the market due to the release of goods that had been piled up in customs over the past months. We’re also seeing an inflow of goods from the first import cycle after the exchange rate liberalization last March, he said.
Remember:
Home appliance prices rose and sales dropped as much as 60% at the start of 2024 as a result of higher input costs for Egyptian companies that produce equipment, including steel.
