Engineering Export Council of Egypt (EEC) announced an increase in engineering industries exports in February 2024, recording the highest monthly figure in the history of engineering exports, reaching $459m, compared to $345m in February 2023.
The EEC revealed in its monthly report that total exports during period from January and February 2024 increased by 29%, reaching $802.6m, compared to $622.5m for the same period in 2023.
The Council mentioned the most important sectors whose exports increased during 2024 until the end of February compared to the same period in 2023, including cables that achieved a growth of 45%, car components that increased by 65%, and home appliances that recorded an increase of 18%, then means of transportation achieved a jump of 194%. In addition, Table and kitchen exports utensils by 38%, pumps, boilers and motors surge by 171%, and blades by 60%.
Regarding the most important countries to which engineering exports increased from Europe are Turkey, the United Kingdom, France, Germany, the Czech Republic, Georgia, Lithuania, Italy and Spain, from Asia Saudi Arabia, the UAE, Iraq and Jordan. Meanwhile, in Africa Libya, Kenya, Nigeria, Tunisia, Côte d’Ivoire, Burkina Faso, Ghana, Uganda and Congo-Kinshasa.
For her part, Executive Director of EEC May Helmy said that the increase in exports of the engineering industries sector during February 2024 to the highest level in history comes as a continuation of positive results achieved in 2023 after exports exceeded $4bn for the first time in history as well, and confirms the great success for plans to increase exports.
She pointed out that the success of engineering exports in achieving sustainable growth in exports contributes to implementing the state’s strategy for promoting merchandise exports and reaching advanced targets for Egyptian exports.
She further noted that the engineering sector is one of the most important and promising export sectors that contributes strongly to creating jobs and increasing added value in local manufacturing. Besides, it has an excellent reputation in global markets.
Helmy revealed that the counicl is following a strategy to increase exports in 2024 by a rate ranging between 10 to 15%, based on the enormous potential of the Egyptian engineering industries, including participation in international exhibitions, taking into account the new regulations for exhibitions, as well as organizing commercial delegations and foreign trade weeks.
