Agricultural machinery

China is one of the largest agricultural machinery manufacturing and exporting countries in the world. January 2006 figures show that overseas shipments of agricultural machinery are still on the rise, already totaling close to 8 million pieces worth US$297 million. In 2005, China shipped more than US$3 billion worth of agricultural machinery, which is 55 percent more than what it exported the year before. Export volume of agricultural machinery rose at a relatively slow rate of 34 percent from 68.7 million pieces in 2004 to 91.8 million in 2005. Rising prices are the primary reason behind the higher growth rate of export value. Customs statistics show that the average unit value of agricultural machinery increased close to 16 percent in 2005, compared with the 10 percent adjustment the previous year.