Ag-Machinery Economic Update: Exports Surge to Record Growth in 2018!
According to the provisional data released for the fiscal year 2018, the total value of exports in the agricultural machinery increased by %27 compared to 2017 and the turnover reached 831 million USD in this period. This is the highest international trade turnover of all-time and Ag-Machinery industry set a record growth in 2018. Consequently, the industry ranked 7th among 22 machinery industries respectively according to the export revenues.
In this period, total exports in the entire machinery industry amounted to 17.1 billion USD, while the change compared to the previous year is 15.5%. Overall export value per kilogram increased from $ 5.8 in 2017 to $ 6. In agricultural machinery, the unit value per kg increased from USD 4.5 to USD 4.7. The export countries are prevalently; USA, Italy, Azerbaijan, Iraq, Uzbekistan, Sudan, Bulgaria, Morocco, Australia and France. As of the first 11 months of 2018, the industry has a surplus and the covarege ratio of exports to imports is 169%.
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