On a monthly basis, Egypt’s engineering exports climbed 41% in March 2022 to reach $392 million, compared to $278 million in March 2021
Egyptian engineering exports surged by 32% during the first quarter of 2022, recording $983 million, compared to $743 million in Q1 2021, due to external supply demands exacerbated by the ongoing Russia-Ukraine conflict and global supply chain disruption.
On a monthly basis, Egypt’s engineering exports climbed 41% in March 2022 to reach $392 million, compared to $278 million in March 2021, revealed the monthly report of the Engineering Export Council of Egypt (EEC).
The report indicated the sectors with the most increases in exports during March were machinery and equipment by 116%, cables by 100%, metals by 94%, metal processing and formation 93%, electrical appliances 66%, and household appliances by 21%.
The continued surge in engineering exports were attributed to high external demand due to lack of supply in certain countries, with Sherif El-Sayyad, head of the EEC, noting that Egypt’s engineering sectors will need to reduce production costs to maintain export growth down the line.
He pointed out that the Russian-Ukrainian war affected the prices of raw materials all over the world, which puts strong pressure on the final prices of products not only in Egypt but in all markets.
The council has several activities and initiatives to enter new markets, said Mai Helmy, Executive Director of the Export Council, adding that there is a response from some markets in Africa, where several agreements were signed between Egyptian companies and their counterparts in several countries such as Zambia and Nigeria.
