Egypt’s engineering industry has seen a significant surge in exports in 2024, with a 29.9 percent increase from the beginning of the year through July, according to the Engineering Export Council of Egypt.
Exports reached USD 3.05 billion (EGP 148.9 billion) during this period, up from USD 2.35 billion (EGP 114.1 billion) in the same timeframe in 2023.
The growth was particularly pronounced in July, where exports jumped by 37.9 percent, totaling USD 454.5 million (EGP 22.0 billion) compared to USD 329.6 million (EGP 16.0 billion) in July 2023.
Leading the export gains were cables, electrical equipment, automotive components, home appliances, and the electrical and electronic industries, alongside transportation. Cable exports alone rose by 36.2 percent, while automotive components saw a 32.8 percent increase. Transportation exports recorded the most dramatic rise, surging by 152.4 percent.
European markets, including the United Kingdom, Turkey, and France, were the primary destinations for these exports. In Asia, Saudi Arabia, the United Arab Emirates, and Iraq were the top recipients, while Libya, Morocco, and Tunisia led the African markets.
The Industrial Modernization Centre (IMC) noted that investments in Egypt’s engineering sector are valued at EGP 636 billion (approximately USD 13.1 billion), with the industry employing 19 percent of the nation’s workforce.
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