The Engineering Export Council of Egypt (EEC) announced on Tuesday that Egypt’s engineering exports reached $3.876bn in the 11 months from January to November 2023, a 10% increase from the same period in 2022.
The EEC also reported a 28% increase in engineering exports in November 2023 compared to November 2022, recording $365.7m and $286.6m respectively.
The EEC attributed the growth in engineering exports to the strong performance of several sectors, such as cables (56.3%), household appliances (2.1%), electrical and electronic industries (33.5%), transportation means (120.8%), machinery and equipment (90.9%), and metalworking products (35.2%).
The EEC identified the most important markets for engineering exports in the European continent, such as Turkey, Netherlands, Germany, Italy, the Czech Republic, Spain, and Belgium. In Asia, the main markets were Saudi Arabia, the UAE, Iraq, and Oman. In Africa, the main markets were Libya, Algeria, Sudan, and Côte d’Ivoire. The EEC also mentioned other markets, such as Brazil and China.
May Helmy, Executive Director of the EEC, said that the engineering sector has achieved very good performance since the beginning of the year and that the EEC always seeks to open new markets and implement unconventional ideas.
Helmy added that the EEC is currently working on a strategy to increase exports in 2024 by 10 to 15%, based on the enormous potential of the Egyptian engineering industries and a vision that relies on several axes, including participation in international exhibitions, organizing trade missions and foreign trade weeks, and providing support and assistance to Egyptian companies in entering various markets.
