Machinery Exporters' Association
With machinery exports hitting $17.9 billion in 2019, Turkey's foreign trade deficit in the sector was cut in half from $10 billion to $5 billion, the Machinery Exporters' Association (MAIB) said on Jan. 13.
In 2019, the export/import coverage ratio was 76.3 percent in the Turkish machinery sector, one of the country's three largest export sectors, the group announced.
Turkey's machinery exports rose by 6.8 percent to $9.4 billion in the first eight months of the current year compared with the same period last year.
While Turkey reached its all-time highest exports for August, the share of the machinery sector in total exports was almost 10 percent, the Machinery Exporters' Association (MAIB) said on Sept. 8.