CAIRO – 25 September 2024: Egypt's engineering exports experienced a significant surge in the first eight months of 2024, marking a 27.3 percent increase to $3.494 billion compared to $2.746 billion in the same period of 2023, as detailed in a report from the Engineering Export Council of Egypt (EECE).
In August 2024 alone, engineering exports continued their upward trajectory with a 12.1 percent rise, hitting $443.6 million, up from $395.8 million in August 2023, as highlighted in the cabinet's monthly report.
Key sectors driving this growth include cables, which saw a notable 33.1 percent increase, electrical appliances with a 6.9 percent rise, and automobile components up by 26 percent, according to EECE.
Household appliances exports increased by 7.9 percent, electrical and electronic industries by 9.1 percent, and means of transportation by 118.1 percent during the same period.
Furthermore, recent data from the Central Agency for Public Mobilization and Statistics (CAPMAS) in September revealed a decrease in the trade deficit to $2.87 billion in June 2024, down from $3.02 billion in June 2023, marking a 5.1% decline.
Export values also saw a slight dip of 1.6 percent to $3.13 billion in June 2024, compared to $3.18 billion in June 2023, as per CAPMAS reports.
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