Sherif Al-Sayyad, Chairperson of the Engineering Export Council of Egypt, has announced a remarkable 32.3% surge in engineering exports from January to April 2024, reaching a historic high of $1.673bn, compared to $1.264bn during the same period in 2023. In April 2024, engineering exports experienced a substantial rise of 50.3%, reaching $431.5m, compared to $287.1m in April 2023—a figure unprecedented in the sector’s history. Achieving sustainable growth in exports contributes to implementing the state’s strategy for enhancing commodity exports and reaching the target of $145bn in Egyptian exports by 2030. Furthermore, the engineering sector plays a crucial role in job creation and increasing value-added in local manufacturing. Mai Helmy, the Executive Director of the Engineering Export Council, outlined the council’s strategy to increase exports in 2024 by 15% to 20%.

Source: Daily News Egypt May 28, 2024 17:02 UTC