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Egyptian Engineering Exports Surge 8.5% to $3.5bn in 10M 2023

The Engineering Export Council of Egypt (EECE) has announced that engineering exports increased by an impressive 8.5% during the period from January to October 2023 (10M 2023), reaching $3.516bn compared to $3.241bn in the same period last year. This significant growth is a testament to the resilience and adaptability of the Egyptian engineering sector amidst global challenges.

The EECE’s monthly report highlighted that engineering exports in October 2023 alone achieved a remarkable 22% growth, reaching $396m compared to $324m in October 2022. This robust performance is attributed to the strong demand for Egyptian engineering products in various markets worldwide.

The Council’s report further revealed that several sectors played a pivotal role in driving this export growth. Cables emerged as the top performer, with a growth rate of 56.9%, followed by household appliances (1.9%), electrical and electronic industries (40.9%), means of transportation (121.8%), machinery and equipment (92.7%), and metalworking products (45.7%).

In terms of export destinations, Europe emerged as the primary market for Egyptian engineering products, with Turkey, Netherlands, Germany, Italy, Czechia, Spain, and Belgium leading the way.

Asia also played a significant role, with Saudi Arabia, UAE, Iraq, Oman, Syria, and Bahrain making noteworthy contributions. Africa, with countries such as Algeria, Libya, Sudan, Côte d’Ivoire, Mauritius, and Cameroon, also contributed to the export growth. Additionally, Brazil and China were identified as promising emerging markets for Egyptian engineering products.

To further capitalize on the positive export momentum, the EECE announced the launch of a trade mission to Saudi Arabia. Scheduled for December 9-15, this mission will focus on household appliances, electrical products, metalworking, tableware, kitchenware, automobile components, means of transportation, pumps, engines, machinery, and equipment.

The mission, supported by the Trade and Export Development Project funded by USAID, aims to connect Egyptian companies with their Saudi counterparts to explore potential partnerships and secure new export contracts.

EECE Executive Director May Helmy emphasized the Council’s commitment to supporting Egyptian companies in their export endeavours. “The EECE actively helps Egyptian companies enter various markets by participating in exhibitions and missions and assisting them in completing the required documentation,” Helmy stated.

She further reiterated the Council’s dedication to organizing international trade events to promote Egyptian engineering products. “Despite the current global and local challenges, the EECE remains committed to organizing foreign trade missions, exhibitions, and trade weeks to achieve our goal of export growth,” Helmy affirmed.

She added that the Council’s promotional strategies are designed to establish a strong presence in foreign markets and showcase the diversity and quality of Egyptian engineering products.

Source: Daily News