According to the EECE, Egypt’s transportation exports marked an increase of 116.3%, machinery and equipment exports surged by 67%, and metal forming exports by 62.7%
Egypt's exports of engineering industries grew by 10.5% in 2023, to reach $4.245 billion for the first time in history, compared to $3.841 billion in 2022, according to the monthly report of the Engineering Export Council of Egypt (EECE).
According to the EECE, Egypt’s transportation exports marked an increase of 116.3%, machinery and equipment exports surged by 67%, and metal forming exports by 62.7%.
Additionally, cable exports achieved a growth of 53.2% during 2023, metal exports increased by 27.3%, while the electrical and electronic industries exports achieved an increase of 20.9%, and the home appliances exports recorded an increase of 2.5%.
The EECE aims to achieve a growth rate of 10 to 15% in sector exports in 2024, based on the vast potential of the Egyptian engineering industries, Executive Director of the EECE, Mai Helmy confirmed.
Earlier in January, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported that the value of the trade deficit decreased by 16.6% in October 2023, to reach $3.15 billion, compared to $3.78 billion in October 2022.
According to CAPMAS, Egypt’s exports decreased by 19.2% in October 2023, to reach $3.23 billion, compared to $4 billion in October 2022.
