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Engineering industries exports rise 53% in the first 5 months of 2021 to reach $1.17 billion


The Egyptian Engineering Exports Council announced that the sector’s exports increased by 72 percent in May 2021 to record $205.5 million, compared to $119.4 million in the same month last year.

 

The council's monthly report revealed that engineering exports achieved a remarkable increase of 53 percent in the first 5 months of 2021 to record $1.177 billion until the end of May, compared to $770 million for the same period in 2020.

 

In terms of the fiscal year, engineering exports recorded an increase in the first 11 months of the fiscal year 2020/2021 compared to the same period of the fiscal year 2019/2020 by 25.4%, reaching $2.517 billion, compared to $2.008 billion in the same period of 2019/2020. .

 

The most important engineering sectors, whose exports increased during the first 11 months of the fiscal year, were electrical appliances 2%, car components 41%, cables 44%, household appliances 46%, electrical and electronic industries 26%, transportation 31%, and tableware and kitchen utensils 49%.

 

While the most important countries to which engineering exports have increased are Europe (UK - Turkey - France - Germany - Spain - Greece - Italy), Asia (Saudi Arabia - Iraq - Jordan - Kuwait - Hong Kong - Lebanon) and for Africa (Algeria - Morocco - Sudan - Kenya - Tunisia - Togo)

 

On the future vision of engineering exports, Engineer Sherif El-Sayyad, head of the Export Council, stressed that exports are expected to continue to rise until the end of this year, noting that the council’s vision is based on seeking to introduce more small exporters to the export market, because the future is very promising for companies. medium.

 

The head of the Export Council stressed that the state is trying to remedy all the obstacles facing the engineering goods export sector, as well as finding the best ways to increase export rates in line with President Abdel Fattah El-Sisi's vision to achieve a boom in the export sector and achieve $100 billion in the coming years.

 

Al-Sayyad concluded that the council is conducting studies on the needs of foreign markets and making them available to members, so that the exporter can know what the external market needs, and in parallel, the council studies the problems facing the engineering industries sector, whether high production costs or customs problems and other obstacles and send official letters to the authorities responsible in order to contribute to its solution.

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