CAIRO – 1 January 2025: Egypt's engineering exports have achieved a historic milestone, surpassing $5 billion for the first time. The Engineering Export Council of Egypt reported a 21.6% increase in exports during the first eleven months of 2024, reaching $5.1 billion compared to $4.2 billion in the same period of 2023. This growth highlights the sector's significant contribution to the Egyptian economy and its ability to meet global market demands.
Key sectors driving this surge include cables, automotive components, and transportation means, which experienced remarkable growth. Other contributors include electrical appliances, home appliances, and electronic industries. Major export destinations include European markets like the United Kingdom, Turkey, and Germany, alongside Asian partners such as Saudi Arabia, Qatar, and Iraq. African markets, including Libya, Algeria, and Kenya, also played a crucial role.
Chairman of the Engineering Export Council, Sherif El-Sayed, hailed this achievement as a reflection of the immense potential of Egypt's engineering industries. He emphasized the need for increased investments to enhance local manufacturing capabilities and further penetrate global markets. El-Sayed stressed the importance of cost reduction, deeper local manufacturing, and foreign investment in high-tech components to sustain this upward trajectory.
To address challenges and explore new opportunities, the council will host a high-profile conference titled "The Future of Egypt's Engineering Exports" on January 13, 2025. Minister of Investment and Foreign Trade Hassan El-Khatib will participate in this event. This significant achievement underscores the growing strength of Egypt's engineering sector and its vital role in the country's economic development.
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