Bajaj also pointed out that the company's exports, which accounted for 52.7 per cent of Bajaj Auto's net sales in FY22, dropped both in volume and in value terms in FY23. He pointed out political and economic uncertainties in several major importing countries such as Nigeria, Egypt, Sri Lanka and Bangladesh; demonetisation in Nigeria; unavailability of US dollars in the hands of importers as some of the main reasons for the drop in overseas sales.