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September Export Surge May Point to More Sustainable Recovery in Tractor and Farm Equipment!

The industry appeared to be gathering pace in September as exports rose the most this year, adding to hopes for a more sustained recovery in Turkey. According to the foreign trade data of the January-September period,  exports in 2020 fall by 4.1 percent compared to 2019 and reached a level of 735 million USD. However, in this period tractor exports decreased, equipment exports increased.

These indicators show that the industry ranked 5th among 22 sectors in the general machinery export.

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In the foreign trade balance, the ratio of exports to imports was 229 percent, while agricultural machinery imports increased by 47.3% compared to the previous year and reached 262 million USD. The major export partners are Italy, the USA, Uzbekistan, Iraq, Azerbaijan, Sudan, Iraq, Algeria, Russia, Bulgaria, and Romania.

 

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