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ArabFinance: The Egyptian engineering exports value increased to $1.55 billion (EGP 24.36 billion) during the first seven months of fiscal year (FY) 2020/2021, according to a report by the Engineering Export Council of Egypt (EECE) on February 28th.
This marked an 8.4% Year on Year (YoY) growth from $1.43 billion (EGP 22.47 billion).
Car components were among the increasing engineering exports with 8.7%, cables with 22%, home appliances with 22.1%, while electric and electronic industries with 7.7%.
In January 2021, the exports rose by 10% to $218.5 million (EGP 3.43 billion) from $198.7 million (EGP 3.12 billion) in the same month in 2020.
Egypts engineering exports have increased annually by 6% to $1.11 billion (EGP 17.45 billion) during the July-November 2020 period, the first five months of FY 2020/2021.
*At press time, the conversion rate is $1 = EGP 15.72
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