Tractor Industry shows outstanding performance, sales up by 43% YoY in 1HFY21

January 29, 2021 (MLN): Total domestic sales of Tractors have surged by 43.42% YoY or 6,600 units in 1HFY21 to 21,800 units compared to 15,200 units sod in the same period of last year.

The increase in export of tractors during the first half of FY21 is even more encouraging, especially Millat Tractors whose exports grew by 68% in value to USD 6.9 million compared to USD 4.1 million in the previous year.

In terms of quantity, Millat exported 850 tractors during the first half of FY 2020-21 as compared to 500 tractors in previous year showing a growth of 70% in quantity terms.

This was announced by Adviser to Prime Minister of Pakistan for Commerce and Investment, Abdul Razzaq Dawood via his official Twitter handle on Friday.

While congratulating the tractor manufacturing industry for this outstanding performance, he said “Tractors Industry is one of our most promising export-oriented area. I congratulate the tractor manufacturing industry and encourage them to strive even harder to increase their footprint in the international market.”

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