Egypt’s engineering industries exports surge 20% in May: EEC

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The Engineering Export Council of Egypt (EEC) has announced that the sector’s exports increased by 20% to $360m in May 2023, compared to $299.7m in May 2022.

The EEC’s monthly report highlighted the most important sectors whose exports increased in May 2023 compared to the same month in 2022 are cables, with an increase of 78.7%, car components, an increase of 13.2%, household appliances, an increase of 20.4%, electrical and electronic industries, an increase of 139.3%, and means of transportation, an increase of 73.5% and finally, machinery and equipment, an increase of 48.7%.

The report revealed the most important countries to which engineering exports increased in May 2023. In Europe, the United Kingdom topped the countries importing Egyptian engineering products, followed by Turkey, then France, Slovakia, Germany, the Netherlands and Italy, and in Asia, Saudi Arabia came in the lead, then the UAE, Iraq and Lebanon and Oman and in Africa Algeria, Libya, Morocco, Kenya and Côte d’Ivoire.

Engineering exports witnessed a very slight decrease in the period from January to May 2023 compared to the same period in 2022, with a decrease of 0.7%, reaching $1.642bn, compared to $1.654bn in the same period in 2022.

The EEC is currently preparing the first version of the Egypt Power Show (EPS) mission, which is the largest and first buyer mission in the electrical industries sector, which is being organized in cooperation with Egypt Commercial Service and the United States Agency for International Development (USAID) and sponsored by the National Bank of Egypt, with the participation of 25 Egyptian companies and the presence of 30 to 35 international buyers from countries of Libya, Nigeria, Kenya, Tanzania, Rwanda and Congo.