Egypt's Engineering Exports Surge 28.6% In H1 2024
Date
7/28/2024 4:18:07 AM
(MENAFN- Daily News Egypt) The Engineering Export Council of Egypt (EEC) recently reported a remarkable surge in the sector's exports during the first half of 2024. Exports increased by 28.6%, reaching an impressive $2.599bn compared to the previous $2.02bn. Led by Sherif El-Sayyad, the Engineering Export Council highlighted substantial growth in June 2024, with exports amounting to $425.8m, up from $348.1m in June 2023.
Key sectors driving this growth include cables (32.2% increase), auto parts (32.4% increase), home appliances (14.3% increase), electrical and electronic industries (8.2% increase), transportation means (151.3% increase), and electrical appliances (2.6% increase).
European countries, including the United Kingdom, Turkey, France, Germany, Georgia, Italy, the Czech Republic, and Spain, were major recipients of Egyptian engineering exports during this period. In Asia, Saudi Arabia, the UAE, Iraq, Azerbaijan, and Qatar saw significant increases. Among African countries, Libya, Morocco, Tunisia, Kenya, Ghana, Nigeria, Angola, and the Democratic Republic of the Congo (Kinshasa) were key destinations.
Additionally, the Engineering Export Council celebrated the success of the second edition of the Egypt Power Show (EPS), the largest international buyers' mission in the electrical industries sector. Organized in collaboration with the Trade Representation and funded by the United States Agency for International Development (USAID), the EPS mission engaged countries such as Senegal, Côte d'Ivoire, the Democratic Republic of the Congo, Uganda, Ghana, and Zambia. Participating companies secured several export contracts across diverse markets.
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