This uptick in exports, compared to $1.264 billion in the same period last year, is within the government’s goals to bolster its exports in the next 3 years
Egypt’s engineering exports witnesses a significant surge of 32.3% between January and April 2024, reaching a record-breaking $1.673 billion, explained Sherif Al-Sayyad, Chair of Egypt's Engineering Export Council.
This uptick in exports, compared to $1.264 billion in the same period last year, is within the government’s goals to bolster its exports in the next 3 years.
April 2024 reported a record 50.3% increase in engineering exports, the highest in the sector’s history, reaching $431.5 million, compared to $287.1 million in April 2023.
Al-Sayyad highlighted sectors that experienced export growth since the start of the year until April, including cables, which increased by 36.3%; automotive components, witnessing a 51.3% rise; household appliances, growing by 18.2%; electrical and electronic industries, expanding by 18.9%; and transportation equipment, which surged by 151.1%.
Countries witnessing increased engineering exports in the first 4 months of 2024 include Europe (United Kingdom, Turkey, France, Germany, Slovakia, Georgia, Italy, Czech Republic, and Spain), Asia (Saudi Arabia, United Arab Emirates, Iraq, Jordan, and Qatar), and Africa (Libya, Morocco, Ghana, Tunisia, Kenya, Nigeria, Angola, Cote d'Ivoire, and DR Congo).
Al-Sayyad underscored the success of export expansion plans in collaboration with the Ministry of Trade and Industry, contributing to the state's strategy of enhancing commodity exports and reaching the $145 billion export target by 2030.
Executive Director of the Engineering Export Council, Mai Helmy, outlined the council's strategy to boost exports by 15-20% by the end of 2024.
This includes participating in international exhibitions, organizing trade missions, and external trade weeks.
