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Ag-Machinery Economic Update: Exports Surge to Record Growth in 2019!

According to the provisional data released for the fiscal year 2019, the total value of exports in the agricultural machinery increased by %14 compared to 2018 and the turnover reached 947 million USD in this period. This is the highest international trade turnover of all-time and Ag-Machinery industry set record growth in 2019. Consequently, the industry ranked 6th among 22 machinery industries respectively according to the export revenues. 

In this period, total exports in the entire machinery industry amounted to 17.9 billion USD, while the change compared to the previous year is 4.2%. Overall export value per kilogram decreased from $ 5.9 in 2018 to $ 5.6. In agricultural machinery, the unit value per kg decreased from USD 4.7 to USD 4.4. The export countries are prevalently; USA, Italy, Iraq, Azerbaijan, Uzbekistan, Morrocco, Bulgaria, Serbia, Sudan and France. As of the first 11 months of 2019, the industry has a surplus and the coverage ratio of exports to imports is 427%.

 

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