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.
Want to stay up to date with Trade news? Read the latest Egyptian trade news here
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.
