Agricultural machinery production in Russia declining in Q1

Business & Economy May 02, 2023, 19:47

Machinery shipments to the domestic market contracted by 7.7% to 51.8 bln rubles

MOSCOW, May 2. /TASS/. The agricultural machinery in output dropped by 4.7% year on year in money value and totaled 64.7 bln rubles ($807.76 mln) in the first quarter of this year, the Rosspetsmash Association said on Tuesday.

"In January - March 2023, production of the Russian agricultural machinery stood at 64.7 bln rubles, which is 4.7% smaller than in the like period of 2022," the association informed.

Machinery shipments to the domestic market contracted by 7.7% to 51.8 bln rubles ($646.66 mln). Exports gained 3.9% and reached 5.3 bln rubles ($66.16 mln).

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