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

Contents:

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

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

In 2022, the average export price for tractors; (other than tractors of heading no 8709)s amounted to $18,640 per unit, picking up by 44% against the previous year. In general, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2015 an increase of 89% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($47,506 per unit), while the average price for exports to Bangladesh ($1,288 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 Russia (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

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

The average import price for tractors; (other than tractors of heading no 8709)s stood at $123K per unit in December 2023, waning by -9.3% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in November 2023 an increase of 68% month-to-month. As a result, import price reached the peak level of $136K per unit, and then reduced in the following month.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was the United States ($202K per unit), while the price for the Netherlands ($68,941 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 France (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

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

For the fourth consecutive year, China recorded growth in overseas shipments of tractors; (other than tractors of heading no 8709)s, which increased by 5.3% to 194K units in 2022. The total export volume increased at an average annual rate of +9.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, exports of tractors; (other than tractors of heading no 8709)s skyrocketed to $3.6B in 2022. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 80% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

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

1. Bangladesh (34.1K units)
2. Russia (18.6K units)
3. Nigeria (10.8K units)
4. Ukraine (8.7K units)
5. Vietnam (7.4K units)
6. Brazil (7.2K units)
7. Tanzania (6.9K units)
8. Mongolia (6.4K units)
9. Malaysia (5.7K units)
10. Uzbekistan (4.8K units)
11. United Arab Emirates (4.2K units)
12. Thailand (3.6K units)
13. Colombia (2.9K units)

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

After three years of growth, supplies from abroad of tractors; (other than tractors of heading no 8709)s decreased by -73.4% to 1.5K units in 2022. In general, imports saw a significant decrease. The pace of growth was the most pronounced in 2021 with an increase of 20%. As a result, imports reached the peak of 5.8K units, and then shrank notably in the following year.

In value terms, imports of tractors; (other than tractors of heading no 8709)s reduced dramatically to $139M in 2022. Over the period under review, imports faced a sharp descent. The growth pace was the most rapid in 2021 with an increase of 30%. As a result, imports attained the peak of $450M, and then contracted rapidly in the following year.

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

1. France (452.0 units)
2. Belgium (271.0 units)
3. Germany (225.0 units)
4. Sweden (198.0 units)
5. Netherlands (149.0 units)
6. United States (123.0 units)
7. United Kingdom (73.0 units)
8. Italy (18.0 units)

Source: IndexBox Market Intelligence Platform