The Engineering Industries Export Council reported this, indicating in the monthly report that engineering exports recorded an increase in November compared to the same month of 2023 by 12.5%, reaching $451 million in November 2024 compared to $401 million in November 2023.
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The most important sectors whose exports increased during 2024 until November, compared to the same period in 2023, are: cables 32.7%, electrical appliances 6.1%, car components 15.5%, home appliances 4.6%, electrical and electronic industries 6.4%, and transportation 92.4%.
The most important countries to which engineering exports increased in Europe are the United Kingdom, Turkey, France, Germany, Georgia, the Czech Republic, Spain, Ireland and Slovenia, while in Asia they are Saudi Arabia, Iraq, Lebanon, Oman, Azerbaijan and Qatar, and in Africa Libya, Algeria, Morocco, Tunisia, Kenya, Nigeria, Ghana and Uganda.
Sherif El-Sayyad, Chairman of the Engineering Industries Export Council, pointed out that the engineering sector is one of the most important promising export sectors that contributes strongly to providing jobs and increasing the added value in local manufacturing. It also enjoys a distinguished reputation in international markets and is a major contributor to supporting the state’s strategy to increase exports to the required levels. It is also a sector that is witnessing sustainable industrial and export growth.
El-Sayyad stressed that to achieve an export boom, it is necessary to reduce costs and increase the depth of local manufacturing, which will positively reflect on the sector, and attract foreign investments to strategic sectors that are part of the engineering industries sector to meet the needs of the industry.
He added that these steps require working on more than one axis, including providing incentive packages to attract investments in components that require precise technology and require high costs when importing, in addition to providing accreditation laboratories and providing more tax and customs incentives when importing components, raw materials and production needs.
