Engineering exports surge 32.3% YoY during first 4M of 2024



Tue, 28 May 2024 - 12:15 GMT


Tue, 28 May 2024 - 12:15 GMT

Cairo – May 28, 2024: During the first four months of 2024, Egypt’s engineering exports witnesses a significant surge of 32.3 percent to record a value of $1.673 billion, compared to $1.264 billion in the same period last year.

According to Sherif Al-Sayyad, Chair of Egypt's Engineering Export Council, April 2024 reported a record 50.3 percent increase in engineering exports, the highest in the sector’s history, reaching $431.5 million, compared to $287.1 million in April 2023.

Al-Sayyad highlighted sectors that experienced export growth since the start of the year until April, including cables, which increased by 36.3 percent; automotive components, witnessing a 51.3 percent rise; household appliances, growing by 18.2 percent; electrical and electronic industries, expanding by 18.9 percent; and transportation equipment, which surged by 151.1 percent.

Countries witnessing increased engineering exports in the first four months of 2024 include Europe (United Kingdom, Turkey, France, Germany, Slovakia, Georgia, Italy, Czech Republic, and Spain), Asia (Saudi Arabia, United Arab Emirates, Iraq, Jordan, and Qatar), and Africa (Libya, Morocco, Ghana, Tunisia, Kenya, Nigeria, Angola, Cote d'Ivoire, and DR Congo).

Al-Sayyad underscored the success of export expansion plans in collaboration with the Ministry of Trade and Industry, contributing to the state's strategy of enhancing commodity exports and reaching the $145 billion export target by 2030.

Executive Director of the Engineering Export Council, Mai Helmy, outlined the council's strategy to boost exports by 15-20 percent by the end of 2024.

This includes participating in international exhibitions, organizing trade missions, and external trade weeks.



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