CAIRO – 22 March 2021: Exports of engineering goods increased by 9.8 percent during the first eight months of the fiscal year 2020/2021, on an annual basis, according to the Engineering Industries Export Council. The council clarified in a statement, Monday, that exports of engineering goods recorded $1.801 billion during the first eight months of the fiscal year 2020/2021, compared to $1.639 billion in the same period of 2019/2020. The council revealed that exports climbed by 19 percent during February 2021, recording $240.5 million, compared to $202.7 million during the same month of prior year. It stated that exports of engineering goods during January and February 2021 recorded an increase of 15percent, reaching $ 460.9 million until the end of February, compared to $ 401.4 million for the same period in 2020, as exports increased for the second consecutive month significantly. Chairman of the Export Council, Sherif Al-Sayyad, said that the engineering sectors witnessed a remarkable growth during the first two months of this year due to the high costs of shipping from China, which gave a comparative advantage to the Egyptian export sectors in engineering industries.

Source: Egypt Today March 22, 2021 11:01 UTC