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Trade Volume Update: MAIB February 2021 Report Released!

The Machinery Exporters Association (MAIB) issued a report highlighting the progress in the merchandise trade in February. The report outlined that the trade increased by about 2.9 percent compared to the same period of the previous year. The total trade which does not include the tractor components amounted to around 175.9 million U.S. dollars in February 2021. Thus, the sector ranked 6th among 22 sectors in national machinery export.

In January, farm machinery imports increased by 56.5 percent year-on-year and reached 35 million USD. On trade balance, the ratio was about 276 percent, which means a trade surplus in the Ag-Machinery industry.

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The trade value of the entire machinery sector grew by 7,4 percent to US$ 3.05 billion year-on-year. The overall trade in goods per kilogram was at $ 5.9. In terms of farm machinery, the export value per kilogram was $ 4.9. The major export partners were the USA, Uzbekistan, Italy, Azerbaijan, Iraq, France, Russia, Serbia, Romania, and Sudan.

 

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