Egypt’s engineering exports surge 27% in 7 months of 2022: EEC

Newspaper Title: https://www.zawya.com/

Newspaper Number:

Tuesday - 6 September 2022

Egypt - Engineering Export Council of Egypt (EEC) has announced that the sector’s exports increased by 27% to $2.1bn from January to July 2022, compared to $1.6bn in the same period in 2021.

The council revealed that engineering exports rose by 24% in July 2022 compared to the same month in 2021, reaching $258.7m in July 2022 compared to $209.1m in July 2021.

The EEC noted that the most important sectors that achieved an increase during the first 7 months of 2022 are electrical appliances, which jumped by 44%, cables, with an increase of 64%, car components increased by 10.1%, household appliances rose by 7%, and pumps, boilers and engines, which hiked by 74. %, machinery and equipment jumped 125%, and minerals by 40%.

Regarding the most important countries to which engineering exports have increased, the EEC highlighted European countries namely the United Kingdom, Slovakia, France, Czech Republic, Spain and in Asia are Saudi Arabia, UAE, Kuwait, Jordan and Lebanon and in Africa Algeria, Morocco, Libya, and Kenya.

The council is preparing to organize the largest event HATS Egypt in engineering industries sector, especially in light of the participation of 80 international buyers, which is an opportunity to sign export contracts from Egypt within the framework of the export promotion plan and in support of the state’s plan to achieve the $100bn in exports.

The fourth edition of HATS will be held from 2-4 October 2022 during which dozens of bilateral meetings will be held with international buyers.

The report of the Export Council pointed out that HATS is the only event in Egypt that serves exports of household appliances, tableware and kitchen equipment in an effective and appropriate manner for the nature of these sectors by hosting a delegation of the largest buyers, which is the largest, to attend the event in Cairo and to hold specialized bilateral meetings with participating Egyptian companies, besides field visits for factories.

Major buyers’ missions such as HATS are an appropriate opportunity to penetrate new international markets and access real and promising export opportunities in the coming period, within the council’s plan to promote exports and continue boosting exports for the second year in a row despite global economic circumstances.