Statistics from the Export Council for Engineering Industries indicate an increase in engineering exports by 8.5% during the period from January to October 2023, reaching $3.516 billion, compared to $3.241 during the same period last year.
Engineering exports will increase during the year 2023
Statistics from the Export Council for Engineering Industries indicate an increase in engineering exports by 8.5% during the period from January to October 2023, reaching $3.516 billion, compared to $3.241 during the same period last year.
Exports in October 2023 achieved a growth of 22%, reaching $396 million, compared to $324 million in October 2022.
growing sectors
The Export Council report shows that the sectors that saw an increase in their exports during the first ten months of 2023 compared to the same period last year are:
- Cables grew by 56.9%.
- Home appliances by 1.9%.
- Electrical and electronic industries by 40.9%.
- Means of transportation by 121.8%.
- Machinery and equipment by 92.7%.
- Metalworking products by 45.7%.
## Target countries
Countries to which engineering exports increased during the same period include:
- In Europe (Turkey, Netherlands, Germany, Italy, Czechia, Spain, Belgium).
- In Asia (Saudi Arabia, UAE, Iraq, Oman, Syria, Bahrain).
- In Africa (Algeria, Libya, Sudan, Côte d'Ivoire, Mauritius, Cameroon).
- In other markets (Brazil, China).
Trade mission
The Engineering Industries Export Council announces the launch of a trade mission to Saudi Arabia in the sectors of household and electrical appliances, metalworking, table and kitchen utensils, automobile components, means of transportation, pumps, engines, machinery and equipment, and electrical industries.
This is in cooperation with the Trade and Export Development Project funded by the United States Agency for International Development, from December 9 to 15.
The expected role of the mission
The trade mission includes 14 companies in these sectors, in order to continue the increase in exports achieved during the year 2023. These sectors are major pillars of the growth of Egyptian engineering exports.
It is expected that a large number of bilateral meetings will be organized during the visit to the Kingdom of Saudi Arabia between Egyptian companies and their counterparts in the Kingdom to communicate about signing export contracts in the future.
Support the Export Council
The Export Council for Engineering Industries helps Egyptian companies enter various markets by participating in exhibitions and missions and supporting companies in completing the required documents and papers.
The Council emphasizes continuing to organize foreign trade missions, exhibitions and trade weeks in order to reach the target of export growth despite the current global and local challenges.
The promotional tools adopted by the Export Council target the presence in foreign markets and the marketing of various engineering products according to a plan that is approved annually for foreign missions and exhibitions, focusing on the comparative advantage of the target markets in different continents.
