Egypt’s engineering trade has seen a major surge in exports in 2024, with a 29.9 % improve from the start of the yr via July, in keeping with the Engineering Export Council of Egypt.
Exports reached USD 3.05 billion (EGP 148.9 billion) throughout this era, up from USD 2.35 billion (EGP 114.1 billion) in the identical timeframe in 2023.
The expansion was notably pronounced in July, the place exports jumped by 37.9 %, totaling USD 454.5 million (EGP 22.0 billion) in comparison with USD 329.6 million (EGP 16.0 billion) in July 2023.
Main the export positive factors had been cables, electrical tools, automotive parts, residence home equipment, and {the electrical} and digital industries, alongside transportation. Cable exports alone rose by 36.2 %, whereas automotive parts noticed a 32.8 % improve. Transportation exports recorded essentially the most dramatic rise, surging by 152.4 %.
European markets, together with the UK, Turkey, and France, had been the main locations for these exports. In Asia, Saudi Arabia, the United Arab Emirates, and Iraq had been the highest recipients, whereas Libya, Morocco, and Tunisia led the African markets.
The Industrial Modernization Centre (IMC) famous that investments in Egypt’s engineering sector are valued at EGP 636 billion (roughly USD 13.1 billion), with the trade using 19 % of the nation’s workforce.
