Price for Tractors; (Other than Tractors of Heading No 8709) in Azerbaijan - 2024

Contents:

1. Price for Tractors; (Other than Tractors of Heading No 8709) in Azerbaijan (CIF) - 2024
2. Price for Tractors; (Other than Tractors of Heading No 8709) in Azerbaijan (FOB) - 2022
3. Imports of Tractors; (Other than Tractors of Heading No 8709) in Azerbaijan
4. Exports of Tractors; (Other than Tractors of Heading No 8709) in Azerbaijan

Price for Tractors; (Other than Tractors of Heading No 8709) in Azerbaijan (CIF) - 2024

In December 2023, the average import price for tractors; (other than tractors of heading no 8709)s amounted to $24,959 per unit, reducing by -23.4% against the previous month. In general, import price indicated a mild increase from February 2023 to December 2023: its price increased at an average monthly rate of +1.5% over the last ten-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, import price for tractors; (other than tractors of heading no 8709)s decreased by -41.0% against October 2023 indices. The growth pace was the most rapid in October 2023 when the average import price increased by 38% month-to-month. As a result, import price attained the peak level of $42,304 per unit; afterwards, it flattened through to December 2023.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Germany ($29,678 per unit), while the price for China ($12,408 per unit) was amongst the lowest.

From February 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Poland (+39.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Tractors; (Other than Tractors of Heading No 8709) in Azerbaijan (FOB) - 2022

The average export price for tractors; (other than tractors of heading no 8709)s stood at $116,644 per unit in 2022, picking up by 1,079% against the previous year. In general, the export price continues to indicate a strong expansion. The export price peaked at $155,000 per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($204,885 per unit), while the average price for exports to Ukraine ($2,000 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tractors; (Other than Tractors of Heading No 8709) in Azerbaijan

Imports of tractors; (other than tractors of heading no 8709)s into Azerbaijan surged to 4.7K units in 2022, with an increase of 42% against 2021 figures. In general, imports posted buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 66%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of tractors; (other than tractors of heading no 8709)s soared to $114M in 2022. Overall, imports saw strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to Azerbaijan in 2022:

1. Netherlands (1249.0 units)
2. Germany (1197.0 units)
3. Sweden (593.0 units)
4. Belarus (582.0 units)
5. China (401.0 units)
6. India (188.0 units)
7. Turkey (154.0 units)

Exports of Tractors; (Other than Tractors of Heading No 8709) in Azerbaijan

Exports of tractors; (other than tractors of heading no 8709)s from Azerbaijan soared to 20 units in 2022, increasing by 122% compared with the previous year's figure. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 400% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of tractors; (other than tractors of heading no 8709)s skyrocketed to $2.3M in 2022. Over the period under review, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from Azerbaijan in 2022:

1. Turkey (10.0 units)
2. Georgia (5.0 units)
3. Russia (3.0 units)
4. Ukraine (1.0 units)
5. Iraq (1.0 units)

Source: IndexBox Market Intelligence Platform