Engineering exports surged by 23% to $229.6m in November 2020, compared to $187.3m in November 2019
Egypt’s engineering exports jump 6 percent in the first five months of fiscal year (FY) 2020/2021, $1.11 billion compared to $1.05 billion during same period of FY 2019/2020.
The Engineering Export Council of Egypt (EECE) highlighted that the sectors that saw increases were transportation vehicles (72 percent), household appliances (21 percent), cables (21 percent), and automobile components (18 percent).
According to the council, engineering exports surged by 23% to $229.6m in November 2020, compared to $187.3m in November 2019.
The EECE highlighted the additional growth of about 25 percent of the annual target of the sector’s exports. This went towards achieving the political leadership’s strategy of boosting Egypt’s exports from various sectors to $100bn, according to EECE Chairperson Sherif El-Sayyad.
Top importers were the UK, France, Germany and Spain in Europe; Saudi Arabia, Iraq and Kuwait in Asia; and Algeria, Morocco, Sudan, Kenya in Africa.
Egyptian Engineering exports to Saudi Arabia rose to $133 million in 2019.
The Engineering Export Council of Egypt and Tabseer Saudi Arabian Company in December 2020 signed a protocol in December to ease Egyptian engineering companies’ access into the Saudi and Gulf markets.
