December 27, 2021

Egypt’s engineering industry exports surge 45% in 11M 2021


El-Sayyad said that engineering industries exports increased by 51% in November 2021 compared to the same month 2020, reaching $354.8m, compared to $234.9m, the largest monthly export figure since 2009.

Egypt’s engineering exports surged by 45% to $3bn from January to November 2021, the highest rate in the history of the sector, compared to approximately $2.1bn in the same period last year, according to Chairperson of Engineering Export Council of Egypt (EECE) Sherif El-Sayyad.

El-Sayyad said that engineering industries exports increased by 51% in November 2021 compared to the same month 2020, reaching $354.8m, compared to $234.9m, the largest monthly export figure since 2009.

Regarding the most important sectors whose exports increased during the first 11 months of 2021, El-Sayyad explained that exports of electrical appliances increased by 41%, cables achieved 97% growth rate, car components recorded 41% increase, household appliances increased 48%, and electrical and electronic industries increased by 31%.

The most important countries to which engineering exports have increased are Slovakia, the United Kingdom, Turkey, France, Germany, Spain, Greece, Russia, Italy, the Czech Republic, Saudi Arabia, the UAE, Iraq, Jordan, Lebanon and China. In addition to, African countries namely Algeria, Morocco, Libya, Sudan, South Africa, Tunisia and Nigeria.

Moreover, Executive Director at EECE, May Helmy, announced that Europe accounts for 48% of the total engineering industries exports, with total exports amounting to $1.4bn, followed by Asia with total exports amounting to $951m an increase of 32%. Meanwhile exports to Africa recorded a total of $535m with 18% growth rate and engineering products exports to South America increased by 2%, with a total of $59m, and North America by 0.6%, with a total value worth $18m.

She noted, “2021 is an exceptional year for engineering industries exports, as it achieved the highest rates, which prompts us to make more efforts during the coming period to increase exports, open new export markets and create hundreds of new export opportunities through various activities of EECE. These activities include receiving importers’ missions, participating in international exhibitions, studying needs of foreign markets, participating in foreign missions and coordinating with all concerned authorities and ministries in this regard.”

dailynewsegypt


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