Machinery / Industrial Parts & Tools

Compared with the record figures for the same period in 2021, the export volume of Russian agricultural machinery products in the first quarter of 2022 increased by 30% to 5.1 billion rubles.

From January to March 2022, Russia exported agricultural machinery products to 22 countries. The main foreign markets are the CIS countries, the European Union, Egypt and Mongolia.

In terms of the number and variety of export products, the fastest-growing part of the export is: the export of forage harvesters increased by 2.9 times, the combine harvester increased by 2.7 times, the lawn mower increased by 90%, and the fertilizer spreader increased by 62%. There was a 54% increase in sprayers and a 42% increase in other harvesting machinery.

In the first quarter of 2022, in terms of export value, exports to Hungary increased by 3.6 times, Egypt by 3.2 times, Poland by 2.9 times, Moldova by 2.3 times, and Uzbekistan by 87% , 81% to Mongolia, 65% to Azerbaijan, 16% to Kazakhstan and 16% to Bulgaria.

The increase in agricultural machinery exports to EU countries was mainly delivered in January-February.

The main reason for the increase in the supply of foreign agricultural machinery is still that the prices of agricultural products in the world market continue to rise, so farmers can invest more funds to modernize agricultural production.

In recent years, Russian companies have increased their investments in the expansion and modernization of agricultural production facilities, as well as in the development and production of new models, thanks to an existing set of state support measures aimed at stimulating production and subsidizing research and development (Government of the Russian Federation 1432 command).

Since March 2022, the main constraints to the growth of agricultural machinery exports are the restructuring of supply and logistics chains, as well as high raw material and energy prices and loan interest rates.