The EEC’s monthly report recorded increases in exports of machinery and equipment by 128%, and metal forming components by 96%
Egypt’s engineering exports have climbed by 10% to hit $3.32 billion during the January – November 2022 period, up from $3 billion in 2021, according to the latest data from the Engineering Export Council (EEC).
The EEC’s monthly report recorded increases in exports of machinery and equipment by 128%, metal forming components by 96%, with exports of pumps, boilers, and engines up by 91%.
Other exports that saw climbs were cables by 22%, car components by 15%, means of transportation increased by 14%, and home appliances by 5%.
The EEC is looking to expand to new export markets, especially in Africa, in order to support the state’s plans to promote exports and achieve the goal of reaching exports to $100 billion in the coming years, explained the chairperson of the EEC, Sherif El-Sayyad, in a statement.
El-Sayyad highlighted the importance of working on a plan to reduce production costs to provide greater opportunities for local products to be present in new markets, highlighting the high quality of Egyptian exports. The EEC head also added that one of the first steps to reduce final costs is to remove customs on imported production inputs and components.
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The largest importers of Egypt’s engineering products are the United Kingdom, France, Germany, Czech Republic, Spain, Italy, Malta, and the Netherlands in Europe; Saudi Arabia, the UAE, Kuwait, Jordan, Lebanon, and Oman in Asia; Algeria, Morocco, Libya, Kenya, Ghana, and Côte d’Ivoire in Africa; and USA, Argentina, and Brazil in the Americas.
Egypt’s non-oil exports climbed by 11% in the January – November period last year, reaching $32.57 billion.
