The Machinery Exporters Association (MAIB) issued a report highlighting the progress in the merchandise trade during the January-November period. The report outlined that the exports increased by about 29.4 percent compared to the same period of the previous year.
The total exports which do not include the tractor components amounted to around 375 million U.S. dollars in this period. Thus, the sector ranked 5th among the 22 sectors in national machinery export. In the agricultural machinery sector, the imports in the January-February period of 2023 increased by 70.6 percent compared to the level of 2022 and reached the level of 167.9 million dollars. With these data, the industry had a foreign trade surplus of 78.8 million dollars as of February and ranked 6th among 23 sectors in the general machinery sectors ranking with the ratio of exports to imports.
The trade value of the entire machinery sector grew by 12,8 percent to US$ 6.15 billion year-on-year. The overall trade in goods per kilogram was at $ 7.1. In terms of farm machinery, the export value per kilogram was $ 5.6. The major export partners were the USA, Italy, Azerbaijan, France, Uzbekistan, Iraq, Bulgaria, Australia, and Romania.