CAIRO – 2 September 2024: In the period spanning from January to July 2024, Egypt's engineering exports experienced a notable surge of 29.9 percent, hitting $3.052 billion as per the latest disclosure from the Engineering Export Council of Egypt (EEC).
This demonstrates a substantial growth from the $2.350 billion mark observed during the corresponding timeframe in 2023.
The data further reveals a significant spike of 37.9 percent in engineering exports for July 2024, totaling $454.5 million, in contrast to the $329.6 million recorded in July 2023.
Key sectors witnessed remarkable increases in exports during the initial seven months of 2024. Cables surged by 36.2 percent, electrical appliances by 5.5 percent, automobile components by 32.8 percent, household appliances by 12.2 percent, electrical and electronic industries by 8.6 percent, and means of transportation by a substantial 152.4 percent.
In a previous announcement in July, the Central Agency for Public Mobilization and Statistics (CAPMAS) highlighted a narrowing trade deficit for Egypt in April 2024, dropping by 2.5 percent to $2.68 billion compared to the $2.75 billion in April 2023.
The agency's monthly bulletin also pointed out a slight upswing in Egyptian exports in April, increasing by 0.8 percent to $3.29 billion from $3.26 billion in April 2023.
This uptick was largely attributed to the rise in specific commodities, notably petroleum products by 16.3 percent, ready-made clothing by 31.4 percent, pasta and food preparations by 45 percent, and medicines and pharmaceutical preparations by 64 percent.
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