$1.642 billion.. Exports of "engineering industries" during 2023

The Export Council for Engineering Industries announced that the sector’s exports increased by 20% in May 2023, reaching $360 million, compared to $299.7 million in May 2022.

Engineering Industries

The monthly report of the Export Council for Engineering Industries indicated that the most important sectors whose exports increased during May 2023 compared to the same month in 2022 are, Cables increased by 78.7%, automotive components increased by 13.2%, and home appliances increased by 20.4%, the electrical and electronic industries, with an increase of 139.3%, means of transportation, an increase of 73.5%, and finally machinery and equipment, an increase of 48.7%.

Egypt Power Show

The Export Council for Engineering Industries is preparing the first version of the Egypt Power Show (EPS) mission, which is the largest and first buyer mission in the electrical industries sector, which is being organized in cooperation with commercial representation and the United States Agency for International Development (USAID) and sponsored by the National Bank, with the participation of 25 Egyptian companies and the presence of 30 to 35 international buyers. From the countries of Libya, Nigeria, Kenya, Tanzania, Rwanda and Congo.

The Export Council for Engineering Industries indicated that the EPS mission will focus on bringing buyers to meet 25 Egyptian companies to hold bilateral meetings and make field visits to various Egyptian factories specialized in the electrical industries sector in order to expand the work of this sector.

Important countries

The report revealed the most important countries to which engineering exports increased during May 2023. In Europe, the United Kingdom topped the countries importing Egyptian engineering products, followed by Turkey, France, Slovakia, Germany, the Netherlands and Italy.

In the continent of Asia, the Kingdom of Saudi Arabia came at the fore, then the Emirates, Iraq, Lebanon, and Oman. In Africa, Algeria, Libya, Morocco, Kenya, and Côte d'Ivoire.

Engineering exports witnessed a very slight decrease in the period from January to May 2023 compared to the same period in 2022, with a decrease of 0.7%, reaching $1.642 billion in 2023 until May, compared to $1.654 billion for the same period in 2022.

Egyptian cotton

On the other hand, Mansour Abdel-Ghany, spokesman for the Ministry of Business Sector, said that the cost of the plan to develop the spinning and weaving industry in Egypt is estimated at 50 billion pounds.

He pointed out that the cost of machinery and equipment is estimated at 450 million euros, and the development plan depends in part on the self-resources of these companies.

At the beginning of his speech, a spokesman for the "business sector" confirmed that Egyptian cotton is still "Number One" in the world.

He pointed out that Egyptian cotton still enjoys its great reputation globally, and is also the best in the world, and its name is not, as they say, "long-staple", but rather "extremely long-staple cotton".

He drew attention to the fact that a number of countries had begun to develop long-staple varieties, but there was no comparison between them and the extra long-staple Egyptian cotton.