Price for Tractors; (Other than Tractors of Heading No 8709) in Myanmar - 2023

Contents:

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

Price for Tractors; (Other than Tractors of Heading No 8709) in Myanmar (CIF) - 2022

In 2022, the average import price for tractors; (other than tractors of heading no 8709)s amounted to $1,457 per unit, dropping by -14.5% against the previous year. In general, the import price faced a sharp slump. The pace of growth appeared the most rapid in 2021 when the average import price increased by 91% against the previous year. Over the period under review, average import prices reached the peak figure at $28,383 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($6,315 per unit), while the price for Cameroon ($125 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cameroon (+16.6%), while the prices for the other major suppliers experienced a decline.

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

In 2022, the average export price for tractors; (other than tractors of heading no 8709)s amounted to $14,402 per unit, which is down by -26.7% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 139%. As a result, the export price reached the peak level of $35,571 per unit. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($25,077 per unit), while the average price for exports to the Philippines ($5,269 per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+25.0%), 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 Myanmar

In 2022, supplies from abroad of tractors; (other than tractors of heading no 8709)s decreased by -33.5% to 22K units, falling for the second year in a row after two years of growth. In general, imports continue to indicate a sharp shrinkage. The growth pace was the most rapid in 2020 with an increase of 103% against the previous year. As a result, imports reached the peak of 163K units. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of tractors; (other than tractors of heading no 8709)s declined notably to $32M in 2022. Over the period under review, imports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 57%. As a result, imports attained the peak of $145M. From 2021 to 2022, the growth of imports of remained at a lower figure.

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

1. Cameroon (7.7K units)
2. Thailand (7.3K units)
3. China (4.4K units)
4. India (1.6K units)

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

In 2022, exports of tractors; (other than tractors of heading no 8709)s from Myanmar skyrocketed to 19 units, surging by 171% against the year before. Overall, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of tractors; (other than tractors of heading no 8709)s surged to $274K in 2022. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 234%. Over the period under review, the exports of hit record highs 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 Myanmar in 2022:

1. Thailand (15.0 units)
2. China (2.0 units)
3. Philippines (1.0 units)
4. South Korea (1.0 units)

Source: IndexBox Market Intelligence Platform