EECE head El-Sayyad emphasized that the EECE is also seeking to expand to new export markets, particularly in Africa
Egyptian engineering exports increased by 10% in 2022 on an annual basis to hit $3.8 billion, compared to $3.5 billion recorded in 2021.
The Engineering Export Council of Egypt (EECE) explained that the main contributing engineering exports were cables which grew by 25.6%, electrical items and electronic industries by 18.4%, auto components by 13.8%, and home appliances by 0.8%.
Machinery and equipment exports were up by 104%, means of transportation increased by 10.1%, metal forming exports by 98.9%, and exports of pumps, boilers and engines by 75.8%.
Head of the EECE, Sherif El-Sayyad, explained that the council is looking to boost exports in 2021 by at least 20%.
El-Sayyad emphasized that the EECE is also seeking to expand to new export markets, particularly in Africa, supporting the state’s strategy to promote exports and reach an export value of $100 billion in the coming years.
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The largest importers of Egypt’s engineering products are, according to region; Europe - United Kingdom, France, Netherlands, Germany, Czech Republic, Spain, Italy, Malta, and Ireland; GCC - Saudi Arabia, Emirates, Kuwait, Jordan, Lebanon, and Oman; Africa – Algeria, Morocco, Libya, Kenya, and Ghana.
Egypt’s trade deficit grew during October 2022, widening to $3.58 billion from September 2022’s $2.4 billion.