Exports of engineering, electronic commodities rise to $2.362B: EEC

CAIRO – 25 December 2017: Exports of engineering and electronic commodities increased by 10 percent from January to November 2017, according to a report issued by the Engineering Export Council of Egypt (EEC).

The EEC noted that total exports of engineering and electronic commodities during the period between January and November 2017 registered $2.362 billion, compared to $2.142 billion during the corresponding period of 2016.

Egyptian non-petroleum exports during January-November 2017 increased 10 percent, registering $20 billion against $18 billion in the same period of 2016, the General Organization for Import and Export Control (GOEIC) said last week.

The GOEIC monthly report revealed that Egyptian exports increased by 3 percent during November 2017 on a monthly basis, reaching $1.805 billion, compared to $1.785 billion in November 2016.

Exports of eight export councils soared 31.8 percent during the first 11 months of 2017, recording a total of $3.942 billion from $2.991 billion during the same period of 2016.

Trade Minister, Tarek Kabil, assigned in November Egyptian export councils to prepare sectoral plans that will include ways to increase Egypt’s exports globally.

Kabil told Egypt Today in September that exports could rise from $2 billion to $3 billion in 2017 year-on-year, and that his ministry was aiming to cover 50% of the trade balance deficit by 2020, with increased focus on raising exports.