Browsing: Afrexim Bank

Egypt rising to Africa's largest engineering products exporter .

The head of the Export Council for Engineering Industries, Sherif El Sayyad said that the highest hike in the sector’s history led the engineering industry’s exports to reach US$3 billion, compared to US$2.1 billion in the corresponding period in 2020.

The exports were distributed globally, with Europe accounting for 48 per cent (US$1.4 billion), Asia US$951 million, Africa $535 million, while South America and North America together contributed to a total of $77 million in exports.

Egypt’s engineering products have increased their exports to countries like the United Kingdom, Slovakia, France, Germany, Spain, the Czech Republic, Saudi Arabia, UAE, Iraq, Jordan, Kuwait and Lebanon. In Africa, Egypt’s engineering products importers include Morocco, Algeria, Libya, and Ghana.