Exports Up 38 percent to $500 Million in January-May Period!
According to the latest official statistics, the country's farm equipment exports posted a 38 percent increase (year-on-year) on 01 January – 16 May period of this fiscal to $500 million over the corresponding period of 2019-20. This value corresponds to the highest export of all time on a periodic basis.
It is estimated that this export value will reach approximately $550 million with the addition of tractor parts and components. In the January-March period, farm machinery imports increased by 142.5 percent year-on-year and reached 236 million USD. In terms of trade balance, the export-import coverage ratio was 139.9 percent in this period, which means a trade surplus in the Ag-Machinery industry.
The trade value of the entire machinery sector grew by 30,2 percent to $6.8 billion year-on-year. The overall trade in goods per kilogram was at $ 5.7 and farm machinery value per kilogram was $ 4.5. The major export partners were respectively the USA, Uzbekistan, Italy, Azerbaijan, Iraq, France, Russia, Sudan, Serbia, and Romania.
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