Price for Tractors; (Other than Tractors of Heading No 8709) in Malaysia - 2024
Contents:
- Price for Tractors; (Other than Tractors of Heading No 8709) in Malaysia (CIF) - 2022
- Price for Tractors; (Other than Tractors of Heading No 8709) in Malaysia (FOB) - 2022
- Imports of Tractors; (Other than Tractors of Heading No 8709) in Malaysia
- Exports of Tractors; (Other than Tractors of Heading No 8709) in Malaysia
Price for Tractors; (Other than Tractors of Heading No 8709) in Malaysia (CIF) - 2022
The average import price for tractors; (other than tractors of heading no 8709)s stood at $13,764 per unit in 2022, waning by -13.3% against the previous year. Over the period under review, the import price showed a perceptible decline. The most prominent rate of growth was recorded in 2016 an increase of 18% against the previous year. As a result, import price attained the peak level of $27,263 per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($72,734 per unit), while the price for Japan ($5,514 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.3%), 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 Malaysia (FOB) - 2022
In 2022, the average export price for tractors; (other than tractors of heading no 8709)s amounted to $33,003 per unit, shrinking by -23% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced expansion. The growth pace was the most rapid in 2020 when the average export price increased by 116% against the previous year. Over the period under review, the average export prices reached the peak figure at $42,866 per unit in 2021, and then declined significantly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($89,416 per unit), while the average price for exports to Indonesia ($5,191 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 Chile (+32.7%), 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 Malaysia
For the fourth year in a row, Malaysia recorded growth in purchases abroad of tractors; (other than tractors of heading no 8709)s, which increased by 39% to 13K units in 2022. Overall, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of tractors; (other than tractors of heading no 8709)s soared to $177M in 2022. The total import value increased at an average annual rate of +4.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Tractors; (Other than Tractors of Heading No 8709) in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 42.9 | 42.0 | 32.2 | 54.8 | 8.5% |
| Japan | 24.7 | 16.8 | 24.1 | 29.6 | 6.2% |
| Sweden | 23.2 | 18.4 | 15.3 | 19.2 | -6.1% |
| Brazil | 9.8 | 9.4 | 23.9 | 16.0 | 17.8% |
| India | 3.1 | 3.7 | 5.6 | 11.4 | 54.4% |
| Netherlands | 23.0 | 22.3 | 8.9 | 11.2 | -21.3% |
| Thailand | 14.8 | 9.2 | 28.5 | 10.5 | -10.8% |
| South Korea | 0.7 | 1.2 | 2.8 | 5.7 | 101.2% |
| Italy | 2.3 | 4.3 | 3.3 | 3.7 | 17.2% |
| Others | 11.2 | 6.6 | 2.5 | 14.8 | 9.7% |
| Total | 156 | 134 | 147 | 177 | 4.3% |
Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to Malaysia in 2022:
- Japan (5.4K units)
- China (4.3K units)
- Thailand (0.7K units)
- India (0.6K units)
- South Korea (0.4K units)
- Sweden (0.3K units)
- Brazil (0.2K units)
- Netherlands (0.2K units)
- Italy (0.2K units)
Exports of Tractors; (Other than Tractors of Heading No 8709) in Malaysia
In 2022, overseas shipments of tractors; (other than tractors of heading no 8709)s were finally on the rise to reach 1.2K units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a deep contraction. Over the period under review, the exports of reached the peak figure at 1.8K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, exports of tractors; (other than tractors of heading no 8709)s soared to $38M in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +8.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Tractors; (Other than Tractors of Heading No 8709) in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 2.6 | 0.5 | 3.0 | 14.0 | 75.3% |
| South Korea | N/A | N/A | 4.6 | 6.6 | 43.5% |
| Taiwan (Chinese) | N/A | 1.7 | 0.2 | 5.5 | 79.9% |
| Chile | N/A | 1.4 | N/A | 2.1 | 22.5% |
| Lebanon | N/A | N/A | N/A | 2.0 | 0% |
| Papua New Guinea | 0.8 | 0.4 | 0.2 | 1.8 | 31.0% |
| Mexico | N/A | N/A | 1.2 | 1.7 | 41.7% |
| Indonesia | 2.5 | 0.3 | 0.7 | 0.9 | -28.9% |
| Singapore | 9.1 | 0.3 | 0.6 | 0.7 | -57.5% |
| Philippines | 1.4 | 4.2 | N/A | 0.6 | -24.6% |
| Vietnam | 1.0 | 4.7 | 5.3 | 0.1 | -53.6% |
| Nigeria | 0.2 | 1.1 | N/A | N/A | 450.0% |
| Hungary | 0.3 | N/A | N/A | N/A | 0% |
| Others | 12.1 | 13.3 | 6.0 | 2.5 | -40.9% |
| Total | 29.8 | 27.9 | 21.8 | 38.4 | 8.8% |
Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from Malaysia in 2022:
- Papua New Guinea (223.0 units)
- Indonesia (181.0 units)
- Australia (173.0 units)
- Taiwan (Chinese) (154.0 units)
- South Korea (140.0 units)
- Chile (57.0 units)
- Mexico (48.0 units)
- Lebanon (42.0 units)
- Singapore (28.0 units)
- Philippines (17.0 units)
- Vietnam (1.0 units)
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